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Halozyme Receives $5.5 Million Payment From Baxter
Date:1/6/2009

SAN DIEGO, Jan. 6 /PRNewswire-FirstCall/ -- Halozyme Therapeutics, Inc. (Nasdaq: HALO), a biopharmaceutical company developing and commercializing products targeting the extracellular matrix for the endocrinology, oncology, dermatology, and drug delivery markets, today announced receipt of $5.5 million from Baxter Healthcare Corporation representing the final prepaid product-based payment due under the terms of its HYLENEX licensing agreement, which provides Baxter with exclusive distribution rights. The payment has been booked as deferred revenue.

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 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 therapeutic compounds for up to 13 targets and with Baxter BioScience to apply Enhanze Technology to Baxter's biological therapeutic compound, GAMMAGARD LIQUID. Halozyme's research pipeline candidates target significant areas of unmet medical need. For more information visit www.halozyme.com.

    Halozyme Contact
    Robert H. Uhl
    Senior Director, Investor Relations
    (858) 704-8264
    ruhl@halozyme.com


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SOURCE Halozyme Therapeutics, Inc.
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