Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Teva Pharmaceutical Industries has agreed to invest in Cocrystal Discovery (CDI), a developer of novel antiviral therapeutics, to develop novel antiviral drugs that target viral replication enzymes.
Subscribe to our email newsletter
Initially, Teva is expected to invest around $7.5m in CDI under which CDI will be responsible to develop an antiviral drug targeting the polymerase enzyme of the Hepatitis C virus for Teva.
Upon completion of the initial development plan, Teva will have the option to make additional investments under certain milestones.
The deals allows Teva to license the drug for further development and commercialization, under agreed-upon commercial terms.
Teva has also has the option to further invest in CDI to develop two additional antiviral or antibacterial drugs.
For all such investments, Teva will receive up to approximately 23% holdings in CDI.