Shares of Halozyme Therapeutics (NASDAQ:HALO) added ~12% in the premarket on Friday after the drug delivery technology company withdrew its non-binding proposal to acquire German drugmaker Evotec SE (NASDAQ:EVO).

Halozyme Therapeutics has withdrawn its $2.1 billion offer to buy Evotec after the German company “has been unwilling to engage with us to explore a potential combination,” Halozyme president and CEO Helen Torley said in a Nov. 22 release.

Halozyme Therapeutics, Inc. (NASDAQ:HALO) saw its shares rise on Friday after the company announced it was withdrawing its proposal to acquire Evotec SE (NASDAQ:EVO) for 11 euro ($11.44) per share in cash,

Evotec appears to have rebuffed Halozyme’s $2.1 billion acquisition attempt. Elsewhere, Argenx has another blockbuster target in sight and an FDA veteran plans retirement.

Halozyme Therapeutics Inc. plans to finance its €2 billion ($2.1 billion) proposed takeover of Germany’s Evotec SE in cash, according to Chief Executive Officer Helen Torley. Most Read from BloombergSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and Emissions“We feel confident in being able to fund this as a fully cash deal,

San Diego biotech firm Halozyme Therapeutics is walking back its proposed $2.1 billion acquisition of Evotec, saying the German drugmaker doesn’t want to be bought. The local company announced Friday morning at 5:35 a.