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Halozyme Therapeutics has agreed to acquire US-based Elektrofi in a deal worth up to $900m, which will see it add microparticle capabilities to its portfolio of drug delivery technologies.
Halozyme will purchase fellow subcutaneous drug delivery specialist Elektrofi for $750m upfront, along with with three separate $50m milestone payments. Elektrofi will receive these payments if three products, which are currently undisclosed, are approved following the takeover.
Elektrofi’s platform, called Hyercon, creates biologic concentrations up to five times higher than standard aqueous solution formulations. The company achieves this by turning drug substance into microparticles, enabling high protein concentrations while maintaining subcutaneous administration.
Biologic drugs are often limited by low concentrations due to proteins being prone to aggregation. Therefore, these therapies require large volumes to deliver doses capable of achieving treatment efficacy. Halozyme said that the newly acquired auto-injector technology can reduce the volume of injection for the same dosage, which will “create more opportunities” for administration in the healthcare office and at-home settings.
Halozyme’s CEO Dr Helen Torley said: “With Elektrofi’s Hypercon technology, we are expanding and diversifying our drug delivery technology offerings to the biopharma industry and positioning Halozyme for continued long-term revenue growth through Elektrofi’s licensing, royalty revenue business model.”
Two big pharma companies have already tapped up Elektrofi’s platform in search of enhanced drug concentrations. Eli Lilly signed a deal worth up to $470m with the company in October 2023, giving it exclusive rights to three undisclosed targets. Johnson & Johnson (J&J) then followed up with a five-programme licensing deal with Elektrofi – the transaction was worth nearly $800m, including milestone payments.
