The $900M Shot at Reinventing Biologic Delivery

Halozyme’s Elektrofi deal could turn complex infusions into quick, patient-friendly injections

15 Oct 2025

Halozyme has agreed to acquire biotech firm Elektrofi in a deal valued at up to $900mn, marking a significant step in the effort to make injectable biologics more convenient and accessible. The agreement, announced on October 1, 2025, combines Halozyme’s expertise in subcutaneous drug delivery with Elektrofi’s Hypercon platform, which enables high-concentration biologic formulations of up to 500mg/mL while maintaining workable viscosity.

Under the terms of the deal, Halozyme will pay $750mn upfront and as much as $150mn in additional milestone payments linked to three regulatory approvals, according to Reuters. Analysts said the move reinforces Halozyme’s position in the biologics delivery market as demand grows for treatments that can be administered outside clinical settings.

For Halozyme’s pharmaceutical partners, many active in oncology and immunology, the addition of Elektrofi’s technology could speed up reformulation efforts and reduce reliance on third-party platforms. The company has positioned itself as both an enabler and innovator in injectable biologics.

However, the acquisition comes with operational and technical hurdles. Elektrofi’s platform must demonstrate scalability under manufacturing and regulatory review. Maintaining consistent viscosity, stability and injectability at commercial levels will require further investment. “The platform’s promise is clear, but execution will determine whether it reshapes the market or remains niche,” one industry consultant told Reuters.

The transaction reflects a wider consolidation trend in biopharma, where companies increasingly target enabling technologies rather than individual therapies. A recent PwC report noted that many 2025 deals focus on formulation and delivery innovation to improve patient experience and extend product lifecycles.

If successfully integrated, Elektrofi’s technology could allow Halozyme to transform high-dose biologic treatments once limited to lengthy infusions into quick, at-home injections, potentially setting a new standard in patient-friendly drug delivery.