Halozyme planning $100 million follow-on

Halozyme Therapeutics Inc. (NASDAQ:HALO) proposed late Monday to raise up to $100 million in a follow-on underwritten by JPMorgan and Citigroup. Halozyme markets Hylenex, a formulation of recombinant human PH20 hyaluronidase enzyme ( rHuPH20) that enhances absorption and dispersion of other injected drugs. The company is evaluating the product as a pre-administration infusion site treatment in Type I diabetics using continuous subcutaneous insulin infusion in the Phase IV CONSISTENT 1 trial.

Halozyme also has deals for rHuPH20 with companies including Roche (SIX:ROG; OTCQX:RHHBY), which markets a subcutaneous formulation of the pharma's Herceptin trastuzumab using rHuPH20 in Europe; and Baxter International Inc. (NYSE:BAX), which markets HyQvia -- a subcutaneous formulation of IV IgG antibodies plasma-based therapy Gammagard using rHuPH20 -- in Europe (see BioCentury Extra, Dec. 2, 2013). ...