Halozyme Announces Research Alliance with BioAtla for Conditionally Active Biologics
SAN DIEGO, Jan 19, 2010 (BUSINESS WIRE) -- Halozyme Therapeutics, Inc. (Nasdaq:HALO), a biopharmaceutical company developing and commercializing products targeting the extracellular matrix, today announced the signing of an exclusive, worldwide, contract research collaboration agreement with BioAtla, LLC for the development of novel high throughput recombinant protein screening libraries directed against targets in oncology, aesthetic dermatology and inflammation. During the initial three year term of the research collaboration, Halozyme will receive exclusive worldwide commercial rights from BioAtla to conditionally active biologics (CABs) that arise from the agreement.
The objectives of this program are to generate novel CABs that interact with their targets under highly specific, predefined conditions in the body. Halozyme will leverage its expertise in the extracellular matrix and experience targeting unique tissue microenvironments to identify, generate, and develop biologics directed against both novel and existing targets. BioAtla will apply its proprietary gene synthesis and high throughput expression screening expertise in the library generation and screening of protein analogs with evolved specificity and activity.
"This research initiative utilizing BioAtla's technology is an extension of an existing collaboration that has been successful in generating temperature controlled matrix metalloproteinase enzymes," stated Gregory I. Frost, Ph.D., Halozyme's chief scientific officer. "We believe that evolving protein analogs with properties to produce more controlled and directed therapeutic activity could lead to safer and more effective medicines with fewer side effects."
Halozyme anticipates that basic research on the first compound covered by the agreement will be underway during the second half of 2010. Specific financial terms of the contract have not been disclosed.
About Halozyme Therapeutics, Inc.
Halozyme is a biopharmaceutical company developing and commercializing products targeting the extracellular matrix for the endocrinology, oncology, dermatology and drug delivery markets. The company's portfolio of products and product candidates is based on intellectual property covering the family of human enzymes known as hyaluronidases and additional enzymes that affect the extracellular matrix. Halozyme's Enhanze(TM) technology is a novel drug delivery platform designed to increase the absorption and dispersion of biologics. The company has key partnerships with Roche to apply Enhanze technology to Roche's biological therapeutics, including Herceptin(R), for up to 13 targets, and with Baxter BioScience to apply Enhanze technology to GAMMAGARD Liquid(R). The product candidates in Halozyme's research pipeline target multiple areas of significant unmet medical need. For more information visit www.halozyme.com.
Safe Harbor Statement
In addition to historical information, the statements set forth above include forward-looking statements (including, without limitation, statements concerning program goals for the research collaboration and product characteristics) 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 also 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 regulatory approval requirements and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the company's reports on Forms 10-K, 10-Q, and other filings with the Securities and Exchange Commission.