Halozyme Receives Milestone Payment of $10M from Roche Following Commercial Launch of Herceptin SC
Halozyme Therapeutics, Inc. (NASDAQ: HALO) today announced that the commercial launch of Herceptin® SC in Europe has triggered a $10 million milestone payment to Halozyme under the License and Collaboration Agreement between Halozyme and Roche. This time-saving subcutaneous formulation of Herceptin (trastuzumab) using Halozyme's recombinant human hyaluronidase (rHuPH20) received marketing authorization from the European Commission on August 28, 2013 for the treatment of patients with HER2-positive breast cancer and was launched upon approval. Herceptin SC reduces treatment times and enhances convenience compared to the standard intravenous (IV) form.
"With pricing on par with the intravenous formulation, Herceptin SC represents a compelling treatment alternative for breast cancer patients in Europe, and we congratulate Roche on making this time-saving therapy available to patients in Europe so quickly," said Gregory I. Frost, Ph.D., President and Chief Executive Officer of Halozyme. "This will be the third commercial product using our rHuPH20 enzyme and represents a significant achievement for our technology and company as a whole."
About Breast CancerBreast cancer is the most common cancer among women worldwide.1 Each year, about 1.4 million new cases of breast cancer are diagnosed worldwide, and over 450,000 women will die of