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Roche invests in two biotech firms

December 11, 2006 | A version of this story appeared in Volume 84, Issue 50

Roche and Halozyme Therapeutics have signed an agreement to apply Halozyme's Enhanze drug delivery technology to Roche's biological therapeutic compounds. Enhanze is based on recombinant human hyaluronidase, an analog of a human enzyme that temporarily clears space in the matrix of tissues such as skin. The Roche Venture Fund will invest $11 million in Halozyme. Moreover, Roche will pay Halozyme $20 million up front and possibly make milestone and other payments. Separately, Roche has formed a partnership with Vancouver-based Xenon to develop protein therapeutics targeting hemojuvelin as a novel approach to treating a form of anemia. The Roche Venture Fund will invest $7 million in Xenon, and Roche itself could make $44 million in milestone payments to the firm.

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