A $900 Million Shot: Halozyme Targets Smoother Drug Delivery

Halozyme’s $900M Elektrofi deal aims to speed up and simplify injectable biologic treatments

10 Oct 2025

Halozyme, a California-based biotechnology firm, announced on October 1st that it will acquire Elektrofi, a Boston start-up specialising in concentrated biologic formulations, for up to $900m. The transaction, approved by both boards, includes $750m in cash and a further $150m tied to milestones. It is expected to close by the end of 2025, subject to regulatory clearance.

The purchase expands Halozyme’s hold on the growing market for subcutaneous delivery of complex drugs. Elektrofi’s “Hypercon” technology allows high-dose biologics to be injected under the skin rather than infused intravenously over several hours. Combined with Halozyme’s own ENHANZE platform, which enables large-molecule drugs to be absorbed more easily, the company hopes to offer patients with chronic illnesses faster and more convenient treatment options, possibly even at home.

Analysts call the deal strategic rather than speculative. “This move positions Halozyme to deepen its leadership in subcutaneous biologics,” said a GlobalData analyst. “The technology shows promise, but its success will hinge on formulation stability, manufacturing scale-up and regulatory progress.”

Elektrofi, backed by Novo Holdings and Omega Funds, has partnerships with major biopharma companies testing advanced delivery systems. Halozyme’s acquisition thus continues a trend toward collaboration and patient-centric care.

The transaction also reflects a wider industry shift: as biologics grow more potent, firms are racing to make them easier to deliver. Turning complex therapies into quick injections could reduce strain on hospitals and broaden access for patients. Yet the science remains tricky; concentrated formulations risk instability and high production costs.

If integration succeeds, Halozyme may find itself at the forefront of a new generation of injectable biologics, bringing treatments not just closer to the bloodstream but closer to home.