Halozyme Therapeutics and Skye Bioscience entered into a non‑exclusive global collaboration and license agreement on December 18 2025, announced publicly on January 5 2026. The deal gives Skye access to Halozyme’s ENHANZE drug‑delivery platform, enabling the development of a higher‑dose subcutaneous formulation of nimacimab, a negative allosteric modulator of the CB1 receptor, for obesity treatment.
Nimacimab has shown promise in preclinical studies and in a Phase 2a trial where it failed to meet its primary endpoint as monotherapy but demonstrated meaningful add‑on efficacy when combined with semaglutide. Lower drug exposure in the monotherapy arm suggested that higher doses might be required. ENHANZE, which temporarily degrades hyaluronan in subcutaneous tissue to allow larger volumes to be absorbed, is expected to overcome this limitation and facilitate the delivery of the increased doses needed for therapeutic efficacy.
Under the agreement, Skye will make milestone payments to Halozyme and will pay mid‑single‑digit royalties on net sales of the product for at least ten years. Skye plans to initiate a Phase 2b clinical trial of the ENHANZE‑nimacimab combination in mid‑2026, with the goal of establishing a safe and effective dosing regimen for obesity patients.
For Skye, the partnership de‑risks nimacimab’s development by providing a proven delivery technology and a clear path to higher‑dose testing, potentially accelerating the drug’s progression into the competitive obesity market. For Halozyme, the deal expands the reach of its ENHANZE platform into a high‑growth therapeutic area, creating a new royalty stream and reinforcing its strategy of licensing its technology to multiple biopharmaceutical partners.
Skye shares experienced a positive market reaction following the announcement, while Halozyme shares also saw a modest uptick, reflecting investor optimism about the partnership’s potential to unlock nimacimab’s value.
"Our collaboration with Skye Bioscience expands the reach of our ENHANZE technology into the growing obesity market," said Dr. Helen Torley, President and CEO of Halozyme. "This agreement reinforces the scalability of ENHANZE across diverse indications and supports our strategy to drive sustainable royalty growth with new partnerships and innovations." Punit Dhillon, President and CEO of Skye Bioscience, added, "Partnering with Halozyme to co‑formulate nimacimab with ENHANZE gives us a validated approach to evaluate multiple dose‑ranging strategies, including in combination with GLP‑1 receptor agonists."
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