BioCentury
ARTICLE | Financial News

Halozyme raises $100 million in follow-on

February 6, 2014 1:14 AM UTC

Halozyme Therapeutics Inc. (NASDAQ:HALO) raised $100 million through the sale of 7.7 million shares at $13 in a follow-on underwritten by JPMorgan; Citigroup; Piper Jaffray; and BMO Capital Markets. Halozyme proposed to raise up to $100 million in the offering late Monday, when its share price was $14.74. 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). ...