In December 2014, Halozyme and Janssen Biotech (Janssen) entered into a worldwide Collaboration and License Agreement for the purpose of developing and commercializing products combining proprietary Janssen compounds with Halozyme's ENHANZETM technology.
Under the terms of the agreement, Halozyme has granted Janssen a worldwide license to develop and commercialize products for up to five targets combining rHuPH20 with Janssen's proprietary compounds. Halozyme will receive an initial payment of $15 million, and is eligible to receive additional payments upon Janssen's achievement of specified development, regulatory and sales-based milestones, totaling up to $566 million. Halozyme is entitled to royalty payments based on net sales of products using the ENHANZE technology. Under the collaboration, Janssen will also obtain access to Halozyme's expertise in developing and applying rHuPH20 to Janssen targets and will obtain a worldwide license to develop and commercialize product combinations of rHuPH20 and Janssen target compounds resulting from the collaboration.