Biopharmaceutical heavyweight Halozyme Therapeutics Inc. announced Wednesday it will acquire fellow biotech innovator Elektrofi Inc. in a deal valued at up to $900 million, a move set to reshape the future of drug delivery technologies.
Deal Structure and Financials
The agreement calls for an upfront payment of $750 million, with up to three additional milestone payments of $50 million each, triggered by regulatory approvals for different products. Halozyme said it will finance the transaction using existing cash reserves and its credit facility.
Technology at the Center
Halozyme specializes in solutions designed to streamline the delivery of injected drugs and fluids, a growing need in modern medicine. Elektrofi, meanwhile, brings to the table its Hypercon platform, described as a “breakthrough” technology that enables ultra-high protein concentrations to be injected with ease.
The innovation allows patients to receive the same dosage with smaller injection volumes, paving the way for more at-home delivery options and greater convenience.
