Halozyme to Acquire Elektrofi for $750 Million, Expanding Drug Delivery Capabilities

Halozyme Therapeutics announced a definitive agreement to acquire Elektrofi, a drug formulation technology firm, for an upfront payment of $750 million1 4 5 6.

The deal, expected to close in Q4 2025 pending regulatory approvals, could reach $900 million in total if up to three $50 million milestone payments are met based on regulatory approvals of three unspecified products1 2 4 6.

Elektrofi's core asset is the Hypercon technology, which enables ultra-high biologic drug concentrations of 400–500 mg/ml, up to 5 times greater than standard solutions1 6.

This technology reduces injection volume for the same dosage, making biologics more feasible for subcutaneous and at-home administration, and may specifically aid monoclonal antibody and large molecule drug delivery1 4 2.

Halozyme aims to expand and diversify its portfolio in drug delivery, leveraging Elektrofi’s Hypercon for licensing and royalty revenue growth, and to offer more convenience and accessibility for patients and healthcare providers1 2.

The transaction will be financed through Halozyme’s existing cash and credit facilities2.

The acquisition highlights a broader industry trend toward developing solutions enabling at-home and outpatient drug administration of complex biologics1 2.