SAN DIEGO, May 11, 2011 /PRNewswire/ — Halozyme Therapeutics,
Inc. (Nasdaq:
HALO) and ViroPharma Incorporated (Nasdaq:
VPHM), today announced the signing of a worldwide exclusive
licensing agreement for the use of rHuPH20 (recombinant human
hyaluronidase) in the development of a subcutaneous formulation of
Cinryze (C1 esterase inhibitor [human]). Under terms of the
agreement, Halozyme may receive up to $83 million, commencing with
an upfront payment of $9 million and total potential future
milestone payments of $74 million dependent upon the achievement of
clinical and regulatory targets, plus a 10% royalty on future sales
of the combination of Cinryze with rHuPH20. The license provides
ViroPharma with exclusivity to C1 esterase inhibition and to the
hereditary angioedema (HAE) indication, along with three additional
orphan indications. ViroPharma will fund all development and
commercialization expenses for the program. Additional terms of the
transaction have not been disclosed.

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Cinryze has received FDA approval for intravenous administration
for routine prophylaxis against angioedema attacks in adolescent
and adult patients with hereditary angioedema. A combination
formulation of Cinryze with rHuPH20 for subcutaneous, or under the
skin, administration is expected to enter clinical trials by the
end of the year. The initial focus of the collaboration will be on
the development of a novel subcutaneous formulation of Cinryze for
routine prophylaxis against attacks of HAE.

“Halozyme’s rHuPH20 enzyme may facilitate the subcutaneous
administration and absorption of a broad range of pharmaceuticals
and biologics, including plasma-derived proteins suc

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