Halozyme to buy Elektrofi in up to $900 million deal to expand drug delivery lineup

(Reuters) -Halozyme Therapeutics said on Wednesday it will buy privately held Elektrofi in a deal worth up to $900 million to expand its lineup with a technology that can deliver biologic medicines in small, concentrated doses.

The deal comprises of an upfront payment of $750 million and up to $150 million in milestone payments tied to three separate product approvals.

Elektrofi’s drug delivery technology known as Hypercon is designed to raise drug concentration to about 400–500 mg/ml, while keeping them easy to inject, making it possible for medicines to be given with small devices instead of larger infusions.

(Reporting by Padmanabhan Ananthan in Bengaluru)