TEV '574 is currently in Phase 2b clinical trials for the treatment of ulcerative colitis and Crohn's disease, two types of inflammatory bowel disease
Teva Canada. (Credit: Raysonho @ Open Grid Scheduler / Scalable Grid Engine from Wikimedia Commons)
Teva Pharmaceuticals, a U.S. subsidiary of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) announced today closing of its collaboration deal to co-develop and co-commercialize asset TEV ‘574 with Sanofi (EURONEXT: SAN and NASDAQ: SNY).
TEV ‘574 is currently in Phase 2b clinical trials for the treatment of ulcerative colitis and Crohn’s disease, two types of inflammatory bowel disease.
As announced on October 4th, 2023, under the terms of the agreement, Teva will receive an upfront payment of $500 million shortly after closing and up to $1 billion in development and launch milestones.
Each company will equally share the development costs globally and net profits and losses in major markets, with other markets subject to a royalty arrangement and Sanofi will lead the development of the Phase 3 program. Teva will lead commercialization of the product in Europe, Israel and specified other countries, and Sanofi will lead commercialization in North America, Japan, other parts of Asia and the rest of the world. Initial program results are expected to be available in 2024.
Inflammatory bowel disease (IBD) is the term for two conditions — Crohn’s disease and ulcerative colitis – characterized by chronic inflammation of the gastrointestinal (GI) tract. Prolonged inflammation results in damage to the GI tract. The common symptoms for both conditions are persistent diarrhea, rectal bleeding, abdominal pain, fatigue, and weight loss. An estimated ~10 million people worldwide live with IBD.
Source: Company Press Release