Benzinga | Jun 22, 2021 06:29AM EDT

GSK- Pfizer's ViiV To Develop 'Ultra-Long-Acting' HIV Drugs With $215M Halozyme Deal

* GlaxoSmithKline plc (NYSE:GSK), Pfizer Inc (NYSE:PFE), and Shionogi Limited owned ViiV Healthcare has collaborated with Halozyme Therapeutics Inc (NASDAQ:HALO) to gain access to Halozyme's Enhanze drug delivery technology for use against four HIV targets.

* ViiV Healthcare will pay $40 million upfront and up to $175 million in milestones, as well as mid-single-digit royalties on future sales.

* Enhanze technology uses a recombinant human hyaluronidase PH20 enzyme to temporarily break down a barrier under the skin to allow large amounts of fluid to be injected into the subcutaneous space.

* Therefore, drugs that are otherwise given in high doses by intravenous injections could be converted into subcutaneous injectables, offering convenience for patients.

* Plans are underway to initiate the first experiments with the technology by the end of 2021 for investigational, long-acting cabotegravir to prevent HIV, which is currently administered every two months.

* Price Action: HALO shares closed at $42.17 on Monday.