Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) and Israeli company Biolojic Design have signed a collaboration agreement. Teva will complete development of Biolojic's antibody-based therapy for the treatment of asthma and atopic dermatitis (skin asthma) and have exclusive licensing rights to market the drug.
As part of the agreement, Teva will make an upfront payment and milestone payments. Biolojic is also eligible to receive tiered royalties in "mid-single to low-double digit" percentages of sales should Teva successfully commercialize the therapy. The drug is still in animal trials.
Biolojic Design founder and CEO Yanay Ofran said, "The potential therapy we designed for Atopic Dermatitis and Asthma is another example of how AI can revolutionize drug development. Biolojic’s AI platform allows us to rethink and reimagine what drugs can do. Our platform has already yielded the first AI designed antibody that entered the clinic. As Biolojic continues to focus on developing its internal fully owned pipeline, we are excited that our platform may allow Teva to develop BD9 as a novel therapeutic approach that has the potential to be best-in-class."
Biolojic Design, founded in 2009, aims to transform antibodies into intelligent medicinal solutions through AI and computational design. Biolojic’s AI platform generates computationally designed antibodies that bind to predefined epitopes, thus allowing for the design of specific functions: agonism, antagonism and selective binding..
Teva President and CEO Richard Francis said, "Our Pivot to Growth strategy is opening a new era for Teva as we step up innovation and accelerate development of novel therapies in our immunology pipeline powered both by our inherent antibody engineering capabilities and exciting partnerships. Based on the size of the indications and validity of the targets, this collaboration with Biolojic presents an incredible opportunity to bring this treatment to many patients. As BD9 can tune itself to the specific underlying conditions of the disease and potentially help more patients who do not respond to current therapies and improve outcomes for existing responders and thus addressing a large unmet need."
Published by Globes, Israel business news - en.globes.co.il - on December 14, 2023.
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