Skye Bioscience Enters Non-Exclusive Licensing And Collaboration Agreement With Halozyme For Subcutaneous Nimacimab Using ENHANZE Technology

On December 18, 2025, Skye Bioscience, Inc. (the "Company") entered into a Non-exclusive Collaboration and License Agreement (the "Agreement") with Halozyme, Inc. ("Halozyme").

Under the terms of the Agreement, Halozyme granted the Company a non-exclusive license to Halozyme's ENHANZE® drug delivery technology for the development of a subcutaneous formulation of nimacimab (such combination, the "Product"). Halozyme will also be the Company's exclusive supplier of clinical and commercial supplies of the API for Halozyme's rHuPH20 bulk drug product.

Among other consideration, the Company will make milestone payments tied to achievement of certain development and commercialization milestone events with respect to the Product, as well as milestone payments based on achievement of certain net sales levels of the Product. The Company will also make mid-single digit royalty payments based on worldwide net sales of the Product.

The Agreement includes customary termination rights, representations and warranties, covenants and indemnification obligations for a transaction of this nature.

The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement, a copy of which the Company expects to include as an exhibit to a future periodic report, to be filed with the U.S. Securities and Exchange Commission.