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Clinical Collaboration Agreement between Teva and Launch Therapeutics to Accelerate Development of Dual-Action Asthma Rescue Inhaler (ICS-SABA/TEV-’248) Respiratory Program; Teva and Abingworth Enter Strategic Development Funding Agreement
Collaboration combines Teva’s expertise in respiratory technology development and Launch Therapeutics’ innovative late-stage drug development model to
About this update from The Carlyle Group Inc.
[{"type":"text","content":"\n\nCollaboration combines Teva’s expertise in respiratory technology development and Launch Therapeutics’ innovative late-stage drug development model to progress Teva’s Dual-Action Asthma Rescue Inhaler (TEV-‘248) program\n\n\n\nDevelopment funding agreement to provide up to $150 million to offset program costs and to accelerate clinical research for Teva's TEV-‘248 program in line with Teva's Pivot to Growth strategy to step up innovation and advance its innovative pipeline\n\n\n\nTeva’s TEV-‘248 has the potential to be the first Dual-Action Asthma Rescue Inhaler combining an Inhaled Corticosteroid with a Short-Acting Beta-Agonist (ICS-SABA) for both adult and pediatric asthma indications\n\n\n\n LONDON & BOSTON & TEL AVIV, Israel--(BUSINESS WIRE)--\nTeva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) and Launch Therapeutics, Inc., today announced a clinical collaboration agreement to further accelerate the clinical research program of Teva’s ICS-SABA (TEV-‘248). Teva and Abingworth, a leading international life sciences investment group, part of global investment firm Carlyle (NASDAQ: CG), today also announced a strategic development funding agreement in which Abingworth provides Teva up to $150 million to offset Teva’s ICS/SABA (TEV-‘248) program costs.\n\n\nAs part of the clinical collaboration agreement, Launch Therapeutics, a clinical development company backed by Abingworth and Carlyle, will have the lead role in the operational execution and management of the planned clinical trials, focused on accelerating Teva’s ICS-SABA (TEV-‘248) clinical research program. Teva will retain primary responsibility for manufacturing, regulatory interactions in the U.S., and commercialization.\n\n\nIf TEV-‘248 receives U.S. FDA regulatory approval, Abingworth will be eligible to receive fixed payments as well as success payments based on ICS/SABA sales. Teva will recognize the funding as a reduction in research and development expenses and will retain full rights to the Company’s ICS/SABA program.\n\n\nTeva’s TEV-‘248 has potential to be the first ICS/SABA for both adult and pediatric indications, combining fluticasone propionate and albuterol sulfate delivered via Teva’s breath-activated, multi-dose dry powder inhaler (MDPI), which is used with other approved medicines in Teva’s respiratory product portfolio.\n\n\n“As we execute...