Halozyme Acquires Drug Delivery Company Elektrofi
Halozyme has acquired Elektrofi to expand its drug delivery portfolio, with royalty revenues expected to start by 2030 as partnered products advance to clinical development.
Halozyme Therapeutics announced the successful completion of its acquisition of Elektrofi, a biopharmaceutical company with a proprietary ultra-high concentration microparticle formulation technology for biologics, branded Hypercon.
"Completing the acquisition of Elektrofi is a strategic milestone in our mission to expand Halozyme's drug delivery technology offerings to biopharma companies. With the addition of the Hypercon ultra-high concentration microparticle formulation technology, we will be able to offer partners a diverse portfolio of drug delivery solutions. The acquisition adds an additional high-growth potential, royalty revenue business that is complementary to the strong Enhanze royalty business to drive long-term royalty growth for decades to come," said Helen Torley, President and Chief Executive of Halozyme. "Most importantly, this acquisition reinforces our mission to transform how vital medicines are delivered, ensuring treatments fit seamlessly into a patient's life, rather than patients having to shape their lives around treatment."
"We are excited to welcome the talented Elektrofi team to Halozyme. We look forward to supporting their continued innovation and execution as we now advance the two programs into the clinic before year-end 2026, a key step toward unlocking the potential of the Hypercon platform and delivering long-term value to our partners and shareholders," concluded Torley.
The Hypercon technology is an innovative microparticle approach enabling high protein concentrations while maintaining syringeability, which is the ability to inject smoothly and easily. The increased concentration reduces the volume of injection for the same dosage and will create more opportunities for at-home and HCP office delivery, including via small volume auto-injector or with Halozyme's innovative high volume auto-injector.
Halozyme has acquired Elektrofi for an upfront payment of $750 million, subject to customary purchase price adjustments, and up to three $50 million milestone payments contingent on three separate product regulatory approvals, for a total consideration of up to $900 million at approvals.
Halozyme projects royalty revenues to begin in 2030, and up to $275 million in potential development and commercial milestone payments from Elektrofi's existing two partner programs expected to enter clinical development by year-end 2026 or earlier.
