Halozyme Therapeutics Inc. (NASDAQ: HALO) entered into a global collaboration and license agreement with GSK to develop subcutaneous formulations of multiple oncology targets using Halozyme's ENHANZE drug delivery technology.

The agreement marks Halozyme's first collaboration involving antibody drug conjugates (ADCs) and includes an option for GSK to license additional future drug targets. The first clinical trial is projected to initiate in 2026, according to the company's statement.

Under the terms, GSK will make an upfront payment to Halozyme along with potential future milestone payments. Halozyme will receive royalties on net sales of products incorporating the ENHANZE technology.

"This agreement also marks our first collaboration on subcutaneous delivery of ADCs, where we believe subcutaneous delivery with ENHANZE may meaningfully improve the benefit–risk profile," said Dr. Helen Torley, President and Chief Executive Officer of Halozyme.

Eric Richards, SVP Head of Medicine Development Leaders Oncology at GSK, stated: "We see significant potential for subcutaneous formulations of several promising cancer targets, including ADCs, with ENHANZE and look forward to progressing the first clinical program."

Halozyme's ENHANZE technology uses the proprietary enzyme rHuPH20 to facilitate subcutaneous delivery of injected drugs and fluids. The technology has been used in ten commercialized products across more than 100 global markets and is licensed to pharmaceutical companies including Roche, Takeda, Pfizer, Janssen, AbbVie, and Eli Lilly.

The San Diego-based biopharmaceutical company also develops drug-device combination products using auto-injector technologies and has two proprietary commercial products, Hylenex and XYOSTED.