Halozyme Therapeutics, Inc. (NASDAQ:HALO) ("Halozyme" or the "Company") today announced that it has entered into a global collaboration and license agreement with Incyte (NASDAQ:INCY) to evaluate additional subcutaneous formulations of INCA033989, a first-in-class mutant calreticulin (mutCALR)-targeted monoclonal antibody, in patients with mutCALR-expressing myeloproliferative neoplasms (MPNs), utilizing Halozyme's proprietary ENHANZE® drug delivery technology. The collaboration will focus on the potential for ENHANZE® to strengthen the subcutaneous formulation currently in development for INCA033989, with the goal of enabling more convenient delivery and dosing regimens that may improve the treatment experience.

Under the terms of the agreement, Halozyme will receive an upfront payment from Incyte and is eligible to receive additional payments upon achievement of agreed upon milestones. In addition, Halozyme is eligible to receive royalties on net sales of commercialized medicines using ENHANZE®. Under the collaboration, Incyte also has the option to nominate up to two additional targets for use with ENHANZE.