SAN DIEGO, Oct. 25, 2018 /PRNewswire/ -- Halozyme
Therapeutics, Inc. (NASDAQ: HALO) today announced that
Bristol-Myers Squibb (NYSE: BMY) has dosed the first subject in a
clinical trial evaluating the safety, pharmacokinetics and
pharmacodynamics of BMS-986179, an investigational anti-CD-73
antibody, using Halozyme's proprietary ENHANZE® drug
delivery technology.
"Since the signing of our collaboration with Bristol-Myers
Squibb in September 2017, we have
formed multiple joint program teams and have made rapid progress to
begin assessment of ENHANZE with Bristol-Myers Squibb's extensive
immuno-oncology portfolio," said Dr. Helen
Torley, president and chief executive officer of Halozyme.
"In addition to their initial selection of the PD-1 targeted asset,
Bristol-Myers Squibb has chosen to evaluate BMS-986179 in
combination with ENHANZE in certain cancers. We look forward to
continuing our pursuit of improving the patient treatment
experience."
Initiation of the study triggered a $5
million milestone payment to Halozyme under the
Collaboration and License Agreement between the companies.
Halozyme's ENHANZE technology is based on a proprietary
recombinant human enzyme (rHuPH20) that temporarily degrades
hyaluronan, a glycosaminoglycan or chain of natural sugars in the
body, to aid in the dispersion and absorption of other injected
therapeutic drugs.
Halozyme Collaboration with Bristol-Myers Squibb
In September 2017, Halozyme and
Bristol-Myers Squibb entered into an ENHANZE collaboration and
license agreement. Under the terms of the agreement, Halozyme has
granted to Bristol-Myers Squibb a worldwide license to develop and
commercialize products for up to eleven targets, combining rHuPH20
with Bristol-Myers Squibb's immuno-oncology assets. Halozyme
received an initial payment of $105
million, and is eligible to receive additional payments upon
Bristol-Myers Squibb's achievement of specified development,
regulatory and sales-based milestones, totaling up to $160 million per target. Halozyme is also
entitled to tiered royalty payments based on net sales of products
using the ENHANZE technology.
About ENHANZE®
Technology
Halozyme's proprietary ENHANZE® drug-delivery
technology is based on its patented recombinant human hyaluronidase
enzyme (rHuPH20). rHuPH20 has been shown to remove traditional
limitations on the volume of biologics that can be delivered
subcutaneously (just under the skin). By using rHuPH20, some
biologics and compounds that are administered intravenously may
instead be delivered subcutaneously. ENHANZE may also benefit
subcutaneous biologics by reducing the need for multiple
injections. This delivery has been shown in studies to reduce
health care practitioner time required for administration and
shorten time for drug administration.
Bristol-Myers Squibb &
Immuno-Oncology: Advancing Oncology Research
At Bristol-Myers Squibb, patients are at the center of
everything we do. Our vision for the future of cancer care is
focused on researching and developing transformational medicines,
including Immuno-Oncology (I-O) therapeutic approaches, for
hard-to-treat cancers that could potentially improve outcomes for
these patients.
We are leading the integrated scientific understanding of both
tumor cell and immune system pathways, through our extensive
portfolio of investigational compounds and approved agents. Our
differentiated clinical development program is studying broad
patient populations across more than 50 types of cancers with 24
clinical-stage molecules designed to target different immune system
pathways. Our deep expertise and innovative clinical trial designs
position us to advance the I-O/I-O, I-O/chemotherapy, I-O/targeted
therapies and I-O radiation therapies across multiple tumors and
potentially deliver the next wave of therapies with a sense of
urgency. We also continue to pioneer research that will help
facilitate a deeper understanding of the role of immune biomarkers
and how a patient's tumor biology can be used as a guide for
treatment decisions throughout their journey.
We understand making the promise of transformational medicines
like I-O therapies a reality for the many patients who may benefit
from these therapies requires not only innovation on our part but
also close collaboration with leading experts in the field. Our
partnerships with academia, government, advocacy and biotech
companies support our collective goal of providing new treatment
options to advance the standards of clinical practice.
About Halozyme
Halozyme Therapeutics is a biotechnology company focused on
developing and commercializing novel oncology therapies that target
the tumor microenvironment. Halozyme's lead proprietary program,
investigational drug pegvorhyaluronidase alfa (PEGPH20), applies a
unique approach to targeting solid tumors, allowing increased
access of co-administered cancer drug therapies to the tumor in
animal models. PEGPH20 is currently in development for the
treatment of several cancers and has the potential to be used in
combination with different types of cancer therapies. In addition
to its proprietary product portfolio, Halozyme has established
value-driving partnerships with leading pharmaceutical companies
including Roche, Baxalta, Pfizer, Janssen, AbbVie, Lilly,
Bristol-Myers Squibb and Alexion for its ENHANZE® drug
delivery technology. Halozyme is headquartered in San Diego. For more information visit
www.halozyme.com.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global
biopharmaceutical company whose mission is to discover, develop and
deliver innovative medicines that help patients prevail over
serious diseases. For more information about Bristol-Myers Squibb,
visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube and
Facebook.
Halozyme Safe Harbor Statement
In addition to historical information, the statements set forth
above include forward-looking statements including, without
limitation, statements concerning the possible activity, benefits
and attributes of ENHANZE, the possible method of action of
ENHANZE, its potential application to aid in the dispersion and
absorption of other injected therapeutic drugs, the number of
collaborative targets actually chosen, whether such products are
ultimately developed or commercialized, whether milestones
triggering milestone payments will be achieved, and statements
concerning facilitating more rapid delivery of injectable
medications through subcutaneous delivery that involve risk and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. The forward-looking
statements are typically, but not always, identified through use of
the words "believe," "enable," "may," "will," "could," "intends,"
"estimate," "anticipate," "plan," "predict," "probable,"
"potential," "possible," "should," "continue," and other words of
similar meaning. Actual results could differ materially from the
expectations contained in forward-looking statements as a result of
several factors, including unexpected expenditures and costs,
unexpected results or delays in development and regulatory review,
regulatory approval requirements, unexpected adverse events and
competitive conditions. These and other factors that may result in
differences are discussed in greater detail in the Company's most
recent Annual Report on Form 10-K and Quarterly Reports on Form
10-Q filed with the Securities and Exchange Commission.
Contacts:
Robert H.
Uhl
Managing Director
Westwicke Partners, LLC
858-356-5932
robert.uhl@westwicke.com
Laurie Stelzer
858-704-8222
ir@halozyme.com
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SOURCE Halozyme Therapeutics, Inc.