Halozyme Therapeutics, Inc. (HALO), Monday announced a global collaboration and license agreement with Skye Bioscience, Inc. (SKYE) regarding development and commercialization of higher-dose, subcutaneous administration strategies for nimacimab.
Under this agreement, Skye has licensed Halozyme's ENHANZE drug delivery technology, intending to expand the reach of this technology into the growing obesity market.
Also, Skye intends to evaluate multiple dose-ranging strategies, including in combination with GLP-1 receptor agonists.
As per the terms of the deal, Skye will make milestone payments tied to the achievement of certain development and commercialization events.
Additionally, Halozyme will be entitled to mid-single digit royalties on net sales of nimacimab developed with ENHANZE for at least 10 years.
Meanwhile, Skye plans to commence a Phase 2b clinical trial in obesity for nimacimab with ENHANZE in the middle of 2026.
In the pre-market hours, HALO is trading at $70.46, up 0.21 percent, and SKYE is trading at $0.97, up 11.44 percent on the Nasdaq.
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