Merus and Halozyme partner on subcutaneous petosemtamab formulation

Merus N.V. (NASDAQ: MRUS) and Halozyme Therapeutics Inc. (NASDAQ: HALO) announced a global collaboration and license agreement for developing a subcutaneous formulation of petosemtamab, an EGFR x LGR5 bispecific antibody.

Under the agreement, Merus licensed Halozyme's ENHANZE drug delivery technology to develop and potentially commercialize subcutaneous administration of petosemtamab. The companies stated the collaboration aims to improve treatment efficiency and enhance patient treatment experience.

The financial terms include an upfront payment from Merus to Halozyme and potential future milestone payments related to commercial and sales achievement if the treatment receives approval. Halozyme will receive up to low-mid single digit royalties on net sales of petosemtamab formulated with ENHANZE technology during the royalty term.

"Petosemtamab continues to show encouraging results in clinical studies across numerous solid tumor cancers and has the potential to become a first and best in class treatment in head and neck cancer and beyond," said Peter Silverman, Chief Operating Officer and General Counsel of Merus.

Helen Torley, President and Chief Executive Officer of Halozyme, stated the collaboration represents a new opportunity for ENHANZE technology to improve treatment efficiency and enhance patient treatment experience for patients with recurrent/metastatic head and neck squamous cell carcinoma and other potential indications.

Halozyme's ENHANZE technology uses the proprietary enzyme rHuPH20 to facilitate subcutaneous delivery of injected drugs and fluids. The company has licensed its technology to pharmaceutical companies including Roche, Takeda, Pfizer, Janssen, AbbVie, and Eli Lilly.

Merus develops multispecific antibodies and antibody drug conjugates for oncology applications.

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