Teva to invest $21m in UK clinical studies, research

Teva will collaborate with the UK National Health Service Office for Clinical Research Infrastructure.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) will invest $20 million in clinical trials under a collaboration with the Office for Clinical Research Infrastructure at the UK National Health Service's National Institute for Health Research (NIHR). Teva announced the collaboration during a visit to its Jerusalem plant by Prime Minister Benjamin Netanyahu and British Prime Minister David Cameron.

Teva will utilize the NIHR's new translational research infrastructure, its ability to set up and deliver studies, and provide access to patients from within the National Health Service. The collaboration follows the establishment of a new clinical research model by the NIHR that streamlines the approach to clinical development in the UK by providing a single point of entry into the UK healthcare system.

Teva has committed to a three-year dementia research program, providing funding of up to $1 million for early stage work in UK academic and medical centers. This work will be focused on understanding targets, mechanisms and new approaches to treatment of different causes and types of dementia. As part of the agreement, Teva will gain access to the NIHR Biomedical Research Centers and Units in Dementia and Translational Research Partnership in Dementia. Teva will maintain the right to negotiate licenses to these targets.

“We are delighted to collaborate with NIHR on both clinical development and early dementia research. It will be a catalyst for innovation to take place within a healthcare system that is admired the world over,” said Teva President of Global R&D and CSO Dr. Michael Hayden,at a special UK-Israel Tech Hub at the British Embassy Israel event held at Teva’s Jerusalem plant. “The relationship between Teva, Israel and the UK is a long and fruitful one and I am proud that we can now add another example of us working together as partners for innovation and health."

Prime Minister Cameron said, "This is an excellent area for Britain and Israel to collaborate on. The meaning of Teva is nature, and it is in the nature of Israelis and Brits to be entrepreneurial. Success in technology, innovation, and the pharmaceutical and healthcare industries are a must if Israel and Britain are to compete in the global race."

Published by Globes [online], Israel business news - www.globes-online.com - on March 16, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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