Pfizer (NYSE: PFE ) has licensed Halozyme Therapeutics' (NASDAQ: HALO ) Enhanze technology, which the pharmaceutical giant plans to combine with its biologics. The technology allows drugs that would otherwise have to be administered intravenously or require multiple injections to be delivered subcutaneously -- just below the surface of the skin.
Two therapeutic targets in primary care and specialty care indications have already been identified, for which Pfizer will pay Halozyme $8 million. The license also allows Pfizer to select four additional targets upon payment of additional undisclosed fees.
Halozyme is eligible to receive additional payments of up to $507 million if Pfizer achieves specific development, regulatory, and sales-based milestones.