Shares of Halozyme Therapeutics rose after Swiss drugmaker Roche starting selling Herceptin SC, a version of Roche’s cancer treatment Herceptin that includes technology developed by Halozyme.
Halozyme said it will get a $10 million payment from Roche. European Union regulators approved Herceptin SC in late August as a treatment for a type of breast cancer. Halozyme will also get royalty payments on sales of the drug.
Halozyme’s Enhanze technology is designed to temporarily break down a substance in the body that forms a barrier between cells so drugs can be absorbed faster. That would allow some drugs to be delivered by an injection instead of an IV drip. Halozyme said Herceptin SC can be administered in less than five minutes, while a Herceptin IV drip takes 30 to 90 minutes.
Halozyme and Roche have been working together on Herceptin SC since December 2006.
Roche is also testing a version of its cancer drug MabThera that includes Halozyme technology. Halozyme also has partnerships with Pfizer Inc. and Baxter International Inc. Halozyme Therapeutics Inc. also makes Hylenex, a drug that is used to help improve the body’s absorption of fluids.
Date: September 27, 2013
Source: Associated Press