Alexion Pharmaceuticals Inc. entered into a license agreement to use Halozyme Therapeutics Inc.'s Enhanze drug-delivery technology.
Under the terms of the agreement, Alexion may develop up to four targets, including the company's ALXN1210 formulation.
Alexion will pay Halozyme an initial $40 million. The agreement also includes an additional payment of $160 million for each target, subject to specified development, regulatory and sales-based milestones.
Halozyme will also receive royalties on sales of commercialized products.
The Enhanze technology enables a more rapid delivery of injectable medications through subcutaneous injection, which is just under the skin.