Teva Pharmaceutical Industries will fund the costs of the collaboration and pay certain milestones and royalties to Procognia relating to the usage of the technology in the development of the biopharmaceuticals.
“We believe that accessing the Procognia technology will provide Teva with a distinct competitive advantage,” said Amir Elstein, group vice president, Global Specialty Pharmaceutical Products of Teva. He added, “Glyco-analysis is a complex task in producing biopharmaceuticals. Accessing the technology and skill set from Procognia should significantly benefit both the development and manufacturing processes.”
“The deal structure illustrates the potential advantages that our novel analytical platform can provide,” said Dr Shaike Yakir, president of Procognia.