First subject dosed in phase 1 trial of BMS-986179 with Enhanze technology

Halozyme CEO and president Dr Helen Torley said: “Since the signing of our collaboration with Bristol-Myers Squibb in September 2017, we have formed multiple joint program teams and have made rapid progress to begin assessment of ENHANZE with Bristol-Myers Squibb’s extensive immuno-oncology portfolio.

“In addition to their initial selection of the PD-1 targeted asset, Bristol-Myers Squibb has chosen to evaluate BMS-986179 in combination with ENHANZE in certain cancers. We look forward to continuing our pursuit of improving the patient treatment experience.”

Initiation of the study triggered a $5 million milestone payment to Halozyme under the Collaboration and License Agreement between the companies.

Halozyme’s Enhanze technology is based on a proprietary recombinant human enzyme (rHuPH20) that temporarily degrades hyaluronan, a glycosaminoglycan or chain of natural sugars in the body, to aid in the dispersion and absorption of other injected therapeutic drugs.

In September 2017, Halozyme and Bristol-Myers Squibb entered into an ENHANZE collaboration and license agreement.

Under the terms of the agreement, Halozyme has granted to Bristol-Myers Squibb a worldwide license to develop and commercialize products for up to eleven targets, combining rHuPH20 with Bristol-Myers Squibb’s immuno-oncology assets.

Halozyme received an initial payment of $105m, and is eligible to receive additional payments upon Bristol-Myers Squibb’s achievement of specified development, regulatory and sales-based milestones, totaling up to $160m per target.

Halozyme is also entitled to tiered royalty payments based on net sales of products using the ENHANZE technology.

Halozyme’s proprietary 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 that can be delivered subcutaneously (just under the skin).

By using rHuPH20, some biologics and compounds that are administered intravenously may instead be delivered subcutaneously. ENHANZE may also benefit subcutaneous biologics by reducing the need for multiple injections. This delivery has been shown in studies to reduce health care practitioner time required for administration and shorten time for drug administration.

At Bristol-Myers Squibb, patients are at the center of everything we do. Our vision for the future of cancer care is focused on researching and developing transformational medicines, including Immuno-Oncology (I-O) therapeutic approaches, for hard-to-treat cancers that could potentially improve outcomes for these patients.

Source: Company Press Release