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Halozyme Therapeutics Announces Roche Begins Phase 1 Clinical Trial and Selects Fourth Exclusive Biologic Target
Date:12/8/2008

SAN DIEGO, Dec. 8 /PRNewswire-FirstCall/ -- Halozyme Therapeutics, Inc. (Nasdaq: HALO), a biopharmaceutical company developing and commercializing products targeting the extracellular matrix, today announced that Roche has dosed the first patient in a Phase 1 pharmacokinetic clinical trial with a subcutaneous formulation using Enhanze Technology of a biologic directed to a Roche exclusive target. This has triggered a milestone payment under the agreement.

Roche has also selected an additional exclusive target under the existing license and collaboration agreement. Under the terms of the agreement, Roche will pay Halozyme for exclusive, global rights for the application of its hyaluronidase enzyme, rHuPH20, to a fourth biologic target selected by Roche.

"Roche and Halozyme have successfully completed the necessary drug product formulation and preclinical studies required to initiate a clinical trial. Entering the clinic is a significant achievement and demonstrates Roche's strong commitment to a successful partnership," said Jonathan Lim, M.D., Halozyme's President and CEO. "We are very pleased with the progress that is being made through our collaboration. Roche is a global leader in the development of biologics and we are excited that they have selected a fourth exclusive target, in addition to the three already under development, further validating Halozyme's core technology."

Roche has also maintained its rights to other targets covered in the license and collaboration agreement. An aggregate payment of $10.25 million will be made to Halozyme for commencing a Phase 1 clinical trial, exercising exclusive global rights to a fourth biologic target and for annual maintenance fees.

Halozyme also announced that it has entered into a supply agreement with Roche to provide rHuPH20 for use in formu
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SOURCE Halozyme Therapeutics, Inc.
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