Halozyme Therapeutics announced its agreement to acquire Ekeltrofi, a biopharmaceutical formulation technology company, for $750 million. The deal, expected to close in Q4 2025, can reach a total value of $900 million if conditions for three additional milestone payments of $50 million are met. The milestone payments are contingent on regulatory approvals for three separate products.
According to a company press release, Halozyme strategically identified Elektrofi due to the convenience and accessibility of its proprietary drug delivery technologies. The acquisition will grant Halozyme access to Elektrofi’s Hypercon, an ultra-high concentration microparticle technology for biologics. According to the company, Hypercon enables biologic product formulation concentrations of 400-500 mg/ml, which can be up to 5 times higher than standard aqueous solution formulations for biologics.
Additionally, because the increased concentration reduces the volume of injection needed for the same dosage, the company hopes that the Hypercon technology will expand the scope of therapeutics that can be delivered subcutaneously. Per the release, this also supports a larger trend toward administering biologics at home and in healthcare practitioner offices.
“This acquisition marks a pivotal step in Halozyme’s evolution. With Elektrofi’s Hypercon technology, we are expanding and diversifying our drug delivery technology offerings to the biopharma industry and positioning Halozyme for continued long-term revenue growth through Elektrofi’s licensing, royalty revenue business model,” said Dr. Helen Torley, President and CEO, Halozyme, in the release. “We look forward to welcoming Elektrofi’s talented team as we embark on our next chapter of drug delivery innovation to continue to drive value for all of our stakeholders including our partners, patients, and shareholders.”
“Since Elektrofi’s founding, we have been committed to revolutionizing the delivery of biologic therapies so that patients can live life on their terms,” said Chase Coffman, CEO and Co-founder, Elektrofi, in the release. “Today’s announcement brings us closer to achieving that vision. Halozyme’s proven industry expertise and capabilities in developing drug delivery licensing businesses will advance our unique Hypercon technology, strengthen existing collaborations, support expansion into new partnerships and accelerate our commercialization strategy.”
