Horizon Therapeutics plc and Halozyme Therapeutics, Inc. Enter Global Collaboration and License Agreement for ENHANZE Technology

Horizon Therapeutics plc (Nasdaq: HZNP) and Halozyme Therapeutics, Inc. (Nasdaq: HALO) today announced a global collaboration and license agreement that gives Horizon exclusive access to Halozyme’s ENHANZE drug delivery technology for subcutaneous (SC) formulation of medicines targeting IGF-1R. Horizon intends to use ENHANZE to develop a SC formulation of TEPEZZA (teprotumumab-trbw), indicated for the treatment of Thyroid Eye Disease, a serious, progressive and vision-threatening rare autoimmune disease,¹ potentially shortening drug administration time, reducing healthcare practitioner time and offering additional flexibility and convenience for patients.

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Under the terms of the agreement, Horizon will make an upfront payment of $30 million to Halozyme and is obligated to make potential future payments of up to $160 million in the aggregate, subject to achievement of specified development, regulatory and sales-based milestones. Halozyme will also be entitled to receive mid-single digit royalties on sales of commercialized medicines using the ENHANZE technology.

“Our goal with all of our medicines is to optimize the patient experience,” said Tim Walbert, chairman, president and chief executive officer, Horizon. “As we continue to explore subcutaneous administration for TEPEZZA to provide greater flexibility for patients and physicians, access to the ENHANZE technology, which has been deployed successfully in multiple biologics, represents an important step in our development efforts.”

“We are thrilled to announce our tenth collaboration and license agreement for ENHANZE and look forward to working closely with Horizon to develop TEPEZZA with ENHANZE,” said Dr. Helen Torley, president and chief executive officer, Halozyme. “The launch of TEPEZZA has been one of the most successful and exciting launches in rare disease medicine and is making a difference in the lives of patients suffering from Thyroid Eye Disease.”

Horizon represents Halozyme’s tenth global collaboration and license partner for the ENHANZE technology. These collaborations cover more than 50 therapeutic targets and include five commercialized products to date.

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.