Halozyme collaborates with Lilly on drug delivery
US biotech firm Halozyme Therapeutics (Nasdaq: HALO) has entered into a global collaboration and license agreement with pharma major Eli Lilly (NYSE: LLY) to develop and commercialize products combining proprietary Lilly compounds with Halozyme's ENHANZE platform.
News of the deal, the aim of which is to use the technology to allow for faster delivery of injectable drugs, pushed Halozyme’s share up 4.75% to $16.77 by close of trading on Monday.
Deal worth a potential $825 million
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