Halozyme Therapeutics Inc (NASDAQ:HALO) has announced a collaboration and license agreement with Chugai Pharmaceutical Co Ltd for exclusive access to Halozyme's ENHANZE drug delivery technology for an undisclosed target. 

• The 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 delivered subcutaneously. 
• Using rHuPH20, some biologics and compounds administered intravenously may instead be delivered subcutaneously. 
• ENHANZE may also benefit subcutaneous biologics by reducing the need for multiple injections. 
• Related: Argenx's Subcutaneous Efgartigimod At Par With Intravenous Administration In Neuromuscular Disorder.
• Under the agreement terms, Chugai will make an upfront payment of $25 million to Halozyme and is obligated to make potential future milestone payments of up to $160 million. 
• Halozyme will also receive royalties on sales of commercialized medicines using the ENHANZE® technology.
• Chugai represents Halozyme's twelfth global collaboration and license partner for the ENHANZE technology, covering more than 60 therapeutic targets, including five commercialized products.
• Price Action: HALO shares are up 0.75% at $37.86 during the market session on the last check Thursday.