Exhibit 10.47

FIRST AMENDMENT
TO
LOAN AND SECURITY AGREEMENT AND DISBURSEMENT LETTER
THIS FIRST AMENDMENT to Loan and Security Agreement and Disbursement Letter
(this “Amendment”) is entered into as of February 5, 2013, by and among OXFORD
FINANCE LLC (“Oxford”) as collateral agent (in such capacity, the “Collateral
Agent”), the Lenders listed on Schedule 1.1 of the Loan Agreement or otherwise a
party thereto from time to time including, without limitation, Oxford in its
capacity as a Lender, and SILICON VALLEY BANK (in such capacity, each a “Lender”
and collectively, the “Lenders”), and HALOZYME THERAPEUTICS, INC., a Delaware
corporation, and HALOZYME, INC., a California corporation (individually and
collectively, jointly and severally, “Borrower”).
RECITALS
A.Collateral Agent, Lenders and Borrower have entered into that certain Loan and
Security Agreement dated as of December 28, 2012 (as the same may from time to
time be amended, modified, supplemented or restated, collectively, the “Loan
Agreement”). Lenders have extended credit to Borrower for the purposes permitted
in the Loan Agreement.
B.    Collateral Agent, Lenders and Borrower have entered into that certain
Disbursement Letter dated as of December 28, 2012 (as the same may from time to
time be amended, modified, supplemented or restated, collectively, the
“Disbursement Letter”).
C.    Borrower has requested that Collateral Agent and Lenders amend the Loan
Agreement and the Disbursement Letter to make certain revisions to the Loan
Agreement and Disbursement Letter as more fully set forth herein.
D.    Collateral Agent and Lenders have agreed to so amend certain provisions of
the Loan Agreement and Disbursement Letter, but only to the extent, in
accordance with the terms, subject to the conditions and in reliance upon the
representations and warranties set forth below.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing recitals and other good and
valuable consideration, the receipt and adequacy of which is hereby
acknowledged, and intending to be legally bound, the parties hereto agree as
follows:
1.Definitions. Capitalized terms used but not defined in this Amendment shall
have the meanings given to them in the Loan Agreement.
2.    Amendment to Loan Agreement.
2.1    Section 13.1 (Definitions). The following terms and their respective
definitions hereby are amended in Section 13.1 of the Loan Agreement as follows:
“Amortization Date” is February 1, 2014.
“Maturity Date” is January 1, 2017.
3.    Amendment to Disbursement Letter. The Disbursement Letter hereby is
amended by replacing the Amortization Table with the Amortization Table attached
hereto as Exhibit A.

1    

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Exhibit 10.47

4.    Limitation of Amendments.
4.1    The amendments set forth in Sections 2 and 3, above, are effective for
the purposes set forth herein and shall be limited precisely as written and
shall not be deemed to (a) be a consent to any amendment, waiver or modification
of any other term or condition of any Loan Document, or (b) otherwise prejudice
any right or remedy which Collateral Agent or any Lender may now have or may
have in the future under or in connection with any Loan Document.
4.2    This Amendment shall be construed in connection with and as part of the
Loan Documents and all terms, conditions, representations, warranties, covenants
and agreements set forth in the Loan Documents, except as herein amended, are
hereby ratified and confirmed and shall remain in full force and effect.
5.    Representations and Warranties. To induce Collateral Agent and Lenders to
enter into this Amendment, Borrower hereby represents and warrants to Collateral
Agent and Lenders as follows:
5.1    Immediately after giving effect to this Amendment (a) the representations
and warranties contained in the Loan Documents are true, accurate and complete
in all material respects as of the date hereof (except to the extent such
representations and warranties relate to an earlier date, in which case they are
true and correct as of such date), and (b), no Event of Default has occurred and
is continuing;
5.2    Borrower has the power and authority to execute and deliver this
Amendment and to perform its obligations under the Loan Agreement, as amended by
this Amendment;
5.3    The organizational documents of Borrower most recently delivered to
Collateral Agent and Lenders are true, accurate and complete and have not been
amended, supplemented or restated and are and continue to be in full force and
effect;
5.4    The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment, have been duly authorized;
5.5    The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment do not and will not contravene (a) any law or regulation
binding on or affecting Borrower, (b) any contractual restriction with a Person
binding on Borrower, (c) any order, judgment or decree of any court or other
governmental or public body or authority, or subdivision thereof, binding on
Borrower, or (d) the organizational documents of Borrower;
5.6    The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended
by this Amendment do not require any order, consent, approval, license,
authorization or validation of, or filing, recording or registration with, or
exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower, except as already has been obtained or made; and
5.7    This Amendment has been duly executed and delivered by Borrower and is
the binding obligation of Borrower, enforceable against Borrower in accordance
with its terms, except as such enforceability may be limited by bankruptcy,
insolvency, reorganization, liquidation, moratorium or other similar laws of
general application and equitable principles relating to or affecting creditors’
rights.
6.    Counterparts. This Amendment may be executed in any number of counterparts
and all of such counterparts taken together shall be deemed to constitute one
and the same instrument.

2    

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Exhibit 10.47

7.    Effectiveness. This Amendment shall be deemed effective upon (a) the due
execution and delivery to Collateral Agent and Lenders of this Amendment; and
(b) Borrower’s payment of all Lenders’ Expenses incurred through the date of
this Amendment.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered as of the date first written above.
COLLATERAL AGENT:
OXFORD FINANCE LLC
By: /s/ Mark Davis
Name: Mark Davis
Title: Vice President – Finance, Secretary & Treasurer
LENDERS:
OXFORD FINANCE FUNDING I, LLC
By: Oxford Finance LLC, as servicer
By:    /s/ Mark Davis         
Name: Mark Davis
Title: Vice President – Finance, Secretary & Treasurer
OXFORD FINANCE FUNDING III, LLC
By: Oxford Finance LLC, as servicer
By:    /s/ Mark Davis         
Name: Mark Davis
Title: Vice President – Finance, Secretary & Treasurer
SILICON VALLEY BANK
By:    /s/ Kevin Wallace    
Name: Kevin Wallace
Title: Relationship Manager
BORROWER:
HALOZYME THERAPEUTICS, INC.
By: /s/ Kurt Gustafson
Name: Kurt Gustafson
Title: VP, CFO

HALOZYME, INC.
By: /s/ Kurt Gustafson
Name: Kurt Gustafson
Title: VP, CFO
 
 

3    

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Exhibit 10.47

EXHIBIT A
AMORTIZATION TABLE
Oxford Finance & SVB
 
 
Amortization Table
 
 
Halozyme AA01
 
 
 
Start Date:
12/28/2012
 
Disclaimer:
 
 
 
 
 
Interest Rate:
7.55%
 
THIS IS A STANDARD AMORTIZATION
 
 
 
Term:
48
12IO + 36 PI
SCHEDULE. IT IS NOT INTENDED TO BE
 
 
 
Payment:
$933,875.60
 
USED FOR PAYOFF PURPOSES.
 
 
 
 
Final Payment:
$2,550,000.00
8.5%
 
 
 
 
 
 
Amount:
30,000,000.00
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PMT
Payment
Beginning
Monthly
 
 
Ending
 
 
No.
Date
Balance
Payment
Interest
Principal
Balance
 
 
 
 
 
 
 
 
 
 
Interim Interest
 
1/1/2013
Interim Interest Due - Billed Separately (See Last Tab)
$
30,000,000.00

 
18,875.00
1
2/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
2
3/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
3
4/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
4
5/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
5
6/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
6
7/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
7
8/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
8
9/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
9
10/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
10
11/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
11
12/1/2013
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
12
1/1/2014
$
30,000,000.00

$
188,750.00

$
188,750.00

$
—

$
30,000,000.00

 
 
13
2/1/2014
$
30,000,000.00

$
933,875.60

$
188,750.00

$
745,125.60

$
29,254,874.40

 
 
14
3/1/2014
$
29,254,874.40

$
933,875.60

$
184,061.92

$
749,813.68

$
28,505,060.71

 
 
15
4/1/2014
$
28,505,060.71

$
933,875.60

$
179,344.34

$
754,531.26

$
27,750,529.45

 
 
16
5/1/2014
$
27,750,529.45

$
933,875.60

$
174,597.08

$
759,278.52

$
26,991,250.93

 
 
17
6/1/2014
$
26,991,250.93

$
933,875.60

$
169,819.95

$
764,055.65

$
26,227,195.28

 
 
18
7/1/2014
$
26,227,195.28

$
933,875.60

$
165,012.77

$
768,862.83

$
25,458,332.45

 
 
19
8/1/2014
$
25,458,332.45

$
933,875.60

$
160,175.34

$
773,700.26

$
24,684,632.19

 
 

4    

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Exhibit 10.47

20
9/1/2014
$
24,684,632.19

$
933,875.60

$
155,307.48

$
778,568.12

$
23,906,064.06

 
 
21
10/1/2014
$
23,906,064.06

$
933,875.60

$
150,408.99

$
783,466.62

$
23,122,597.45

 
 
22
11/1/2014
$
23,122,597.45

$
933,875.60

$
145,479.68

$
788,395.93

$
22,334,201.52

 
 
23
12/1/2014
$
22,334,201.52

$
933,875.60

$
140,519.35

$
793,356.25

$
21,540,845.27

 
 
24
1/1/2015
$
21,540,845.27

$
933,875.60

$
135,527.82

$
798,347.78

$
20,742,497.49

 
 
25
2/1/2015
$
20,742,497.49

$
933,875.60

$
130,504.88

$
803,370.72

$
19,939,126.76

 
 
26
3/1/2015
$
19,939,126.76

$
933,875.60

$
125,450.34

$
808,425.26

$
19,130,701.50

 
 
27
4/1/2015
$
19,130,701.50

$
933,875.60

$
120,364.00

$
813,511.61

$
18,317,189.90

 
 
28
5/1/2015
$
18,317,189.90

$
933,875.60

$
115,245.65

$
818,629.95

$
17,498,559.95

 
 
29
6/1/2015
$
17,498,559.95

$
933,875.60

$
110,095.11

$
823,780.50

$
16,674,779.45

 
 
30
7/1/2015
$
16,674,779.45

$
933,875.60

$
104,912.15

$
828,963.45

$
15,845,816.00

 
 
31
8/1/2015
$
15,845,816.00

$
933,875.60

$
99,696.59

$
834,179.01

$
15,011,636.99

 
 
32
9/1/2015
$
15,011,636.99

$
933,875.60

$
94,448.22

$
839,427.39

$
14,172,209.61

 
 
33
10/1/2015
$
14,172,209.61

$
933,875.60

$
89,166.82

$
844,708.78

$
13,327,500.82

 
 
34
11/1/2015
$
13,327,500.82

$
933,875.60

$
83,852.19

$
850,023.41

$
12,477,477.41

 
 
35
12/1/2015
$
12,477,477.41

$
933,875.60

$
78,504.13

$
855,371.47

$
11,622,105.94

 
 
36
1/1/2016
$
11,622,105.94

$
933,875.60

$
73,122.42

$
860,753.19

$
10,761,352.75

 
 
37
2/1/2016
$
10,761,352.75

$
933,875.60

$
67,706.84

$
866,168.76

$
9,895,184.00

 
 
38
3/1/2016
$
9,895,184.00

$
933,875.60

$
62,257.20

$
871,618.40

$
9,023,565.59

 
 
39
4/1/2016
$
9,023,565.59

$
933,875.60

$
56,773.27

$
877,102.34

$
8,146,463.26

 
 
40
5/1/2016
$
8,146,463.26

$
933,875.60

$
51,254.83

$
882,620.77

$
7,263,842.49

 
 
41
6/1/2016
$
7,263,842.49

$
933,875.60

$
45,701.68

$
888,173.93

$
6,375,668.56

 
 
42
7/1/2016
$
6,375,668.56

$
933,875.60

$
40,113.58

$
893,762.02

$
5,481,906.54

 
 
43
8/1/2016
$
5,481,906.54

$
933,875.60

$
34,490.33

$
899,385.27

$
4,582,521.27

 
 
44
9/1/2016
$
4,582,521.27

$
933,875.60

$
28,831.70

$
905,043.91

$
3,677,477.36

 
 
45
10/1/2016
$
3,677,477.36

$
933,875.60

$
23,137.46

$
910,738.14

$
2,766,739.22

 
 
46
11/1/2016
$
2,766,739.22

$
933,875.60

$
17,407.40

$
916,468.20

$
1,850,271.02

 
 
47
12/1/2016
$
1,850,271.02

$
933,875.60

$
11,641.29

$
922,234.31

$
928,036.70

 
 
48
1/1/2017
$
928,036.70

$
933,875.60

$
5,838.90

$
928,036.70

$
—

 
 
Final
1/1/2017
Final Payment

$
2,550,000.00

$
2,550,000.00

$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Totals

$
38,434,521.68

$
8,434,521.68

$
30,000,000.00

 
 
 

5