Halozyme Therapeutics (NASDAQ: HALO) announced that its subsidiary entered into an exclusive collaboration and license agreement with Vertex Pharmaceuticals for the company's Hypercon technology.

Under the agreement, Vertex licensed Halozyme's Hypercon microparticle technology for use in up to three drug targets. The technology enables hyperconcentration of drugs and biologics, reducing injection volume while maintaining the same dosage and allowing for at-home administration.

Vertex will make a $15 million upfront payment to Halozyme and potential future milestone payments. Halozyme will receive royalties on net sales of products developed using the Hypercon technology.

"This collaboration with Vertex underscores the versatility and potential of our Hypercon technology to enable small volume, patient-delivered next‑generation biologics," said Helen Torley, President and Chief Executive Officer of Halozyme.

Mark Bunnage, Executive Vice President and Chief Scientific Officer of Vertex Pharmaceuticals, stated the company is "pleased to add Halozyme's Hypercon drug delivery technology to our toolbox as we pursue transformative therapies for patients with serious diseases."

The information is based on a press release statement from Halozyme Therapeutics.