Halozyme Therapeutics, Inc. (HALO), Thursday announced that the company has entered a global collaboration and exclusive license agreement with Takeda, allowing the latter to access ENHANZE drug delivery technology for use with vedolizumab.
The company expects the collaboration to improve patient experience, deliver innovative solutions, and reinforce value of the ENHANZE technology across multiple therapeutic areas.
As per the terms of the deal, Takeda will make an upfront payment to Halozyme, and potential future development and commercial milestone payments. Also, Halozyme will be entitled to up to low-mid single digit royalties on sales of products containing vedolizumab in combination with ENHANZE.
Currently, HALO's stock is trading at $74.67, down 0.59 percent on the Nasdaq.
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