Pharma BD Deal Intelligence

Halozyme Therapeutics, Inc. / Elektrofi, Inc.

2025 · Acquisition/Merger · $900M · Complete

Halozyme agreed to acquire Elektrofi for USD 750 million in cash upfront plus up to three USD 50 million milestone payments contingent on three separate product regulatory approvals (up to USD 900 million total). Elektrofi's Hypercon ultra-high concentration microparticle technology expands Halozyme's subcutaneous drug delivery offerings alongside ENHANZE and extends its long-term royalty runway. The transaction closed 18 November 2025.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.

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