Halozyme Finds $150M In Debt Financing For Cancer Efforts

San Diego-based Halozyme Therapeutics, the publicly held cancer therapeutics developer, has entered into a $150M credit agreement, the company said this morning. The debt funding comes from Pharmakon Advisors and Athyrium Capital Management. Halozyme said the credit line is secured by future royalties of its ENHANZE products, which are coming from deals with Roche and Baxalta. The company said the funds go to support initiation of a phase 3 study in pancreatic cancer, along with studies in non-small cell lung and gastric cancers, and start of our planned trial in breast cancer in collaboration with Eisai.