Halozyme to acquire Elektrofi for $750M upfront plus up to $150M in milestones

HALOZYME THERAPEUTICS, INC.

Halozyme will pay $750M cash upfront for Elektrofi, subject to customary adjustments for debt, cash, expenses, and net working capital.
Up to three $50M milestone payments conditional on separate product regulatory approvals.
Reverse termination fee of $36M payable by Halozyme if agreement terminated under certain circumstances.
Transaction expected to close within 12 months, subject to HSR and other customary closing conditions.
Certain employee options assumed and converted into Halozyme options, reducing cash consideration.

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