Halozyme Therapeutics (Nasdaq: HALO) has entered a global collaboration and license agreement with Incyte (Nasdaq: INCY) to apply Halozyme's ENHANZE drug delivery technology to subcutaneous formulations of INCA033989, Incyte's first-in-class monoclonal antibody targeting mutant calreticulin (mutCALR) in myeloproliferative neoplasms. The deal, announced July 20, also gives Incyte an option to nominate up to two additional ENHANZE targets.
Halozyme will receive an upfront payment and is eligible for development, regulatory and sales milestones plus royalties on net sales, though specific figures were not disclosed. INCA033989 recently received US FDA Breakthrough Therapy designation for Type 1 CALR-mutated essential thrombocythemia, and Incyte has said it plans to move the antibody into a registrational Phase III program in 2026 following positive Phase I data presented at EHA and ASH in 2025 and 2026.
INCA033989 works by selectively binding malignant cells carrying mutant calreticulin while sparing normal hematopoietic cells, a mechanism Incyte has described as disease-modifying based on molecular response data showing reduction in mutCALR variant allele frequency. ENHANZE, built on the enzyme rHuPH20, temporarily degrades hyaluronan in subcutaneous tissue to permit larger-volume injections, converting infused biologics into formulations administrable in minutes. It underpins ten approved products, including Darzalex Faspro and Phesgo.
The deal follows a notable run of ENHANZE licensing activity. Halozyme signed agreements with GSK in May 2026 covering multiple oncology targets including, for the first time, antibody-drug conjugates, and with Takeda in January 2026 for a subcutaneous formulation of the approved biologic vedolizumab, carrying low-to-mid single-digit royalties. A December 2025 deal with Skye Bioscience for the obesity candidate nimacimab carried mid-single-digit royalties for at least ten years — a plausible benchmark range for the Incyte agreement, though Halozyme has not disclosed terms here.