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The Rights Agreement is intended as a means to guard against any potentialuse of takeover tactics designed to gain control of Halozyme without payingall stockholders full and fair value. Under the Rights Agreement, certainstockholder rights will become exercisable if a stockholder (defined as an"Acquiring Person" in the Rights Agreement) acquires a certain percentage ofthe Company's outstanding shares without first obtaining the prior approval ofthe Company's Board of Directors. The applicable threshold for an AcquiringPerson to trigger these stockholder rights was initially fifteen percent(15%), however that triggering threshold was increased to twenty percent (20%)through the amendment adopted on November 12, 2007.
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About Halozyme Therapeutics, Inc.
Halozyme is a biopharmaceutical company developing and commercializingproducts based on the extracellular matrix for the drug delivery, oncology anddermatology markets. The company's portfolio of products and productcandidates is based on intellectual property covering the family of humanenzymes known as hyaluronidases. The company's Enhanze Technology is a noveldrug delivery platform designed to increase the absorption and dispersion ofbiologics. Its key partnerships are with Roche to apply Enhanze Technology toRoche's biological therapeutic compounds for up to 13 targets and with Baxterto apply Enhanze Technology to Baxter's biological therapeutic compound,GAMMAGARD LIQUID 10%. In addition, the company has received FDA approval fortwo products: Cumulase(R), for use in in-vitro fertilization, and HYLENEX, foruse as an adjuvant to increase the absorption and dispersion of other injecteddrugs and fluids. HYLENEX is partnered with Baxter International Inc. TheCompany also has a number of different enzymes in its portfolio that aretargeting significant areas of unmet need.Halozyme Contact Investor Relations Contact David A. Ramsay Don Markley Chief Financial Officer Lippert/Heilshorn & Associates (858) 704-8260 (310) 691-7100 [email protected] [email protected]
SOURCE Halozyme Therapeutics, Inc.
