Proteologics and Teva extend collaboration

Under the agreement, Proteologics will discover and conduct early development of cancer treatments, while Teva will proceed with later stages of development, manufacturing and worldwide commercialization of the products.

Proteologics and Teva have previously collaborated in developing cancer therapeutics in two discovery programs, based on the ubiquitin system components.

The new deal further reinforces the collaboration by granting Teva the right to continue drug development in these two programs, in addition to a license of the new discovery program. In return, Proteologics is entitled to payments pending on the achievements of milestones, as well as royalties from sales. Proteologics retains freedom to collaborate on different programs with any other partners.

Avishai Levy, CEO of Proteologics, said: “The deal with Teva complements our corporate strategy of growth through early stage collaborations with large pharmaceutical companies. Proteologics’s proven abilities in the ubiquitin drug discovery together with Teva’s drug development and marketing position will maximize our efforts in the search of promising new therapeutics.”