ViroPharma in up to $83 million deal with Halozyme for rHuPH 20 with Cinryze

US companies Halozyme Therapeutics (Nasdaq: HALO) and ViroPharma (Nasdaq: VPHM) have signed 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 accord, Halozyme may receive up to $83 million, with an upfront payment of $9 million and total potential future milestones of $74 million dependent on 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.

News of the deal sent ViroPharma’s shares 2.98% lower to %18.82, while Halozyme shed $0.12 to $6.79 by mid-afternoon tradng yesterday.