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news.Yissum, the technology transfer company of the Hebrew University of Jerusalem, has announced that its subsidiary Jexys Pharmaceuticals, a cell-based drug discovery company, has signed a strategic R&D agreement with Teva Pharmaceuticals Industries.
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Under the terms of the agreement, Teva will finance Jexys’s R&D program for the development of a high throughput drug discovery platform and in return will receive a minority equity interest in Jexys Pharmaceuticals.
Following the completion of the program, Teva will have the option to in-license five drug candidates discovered by Jexys, according to Teva’s choice. This agreement is an extension of a collaborative agreement, signed in October 2006 between Jexys and Teva Pharmaceuticals.
Nava Sofer, CEO of Yissum, said: “The novel drug discovery platform developed by Jexys takes advantage of one of the most accessible and cost-effective biological model systems, namely yeast, in order to quickly and efficiently screen potential drug candidates to treat a host of human diseases.
“We are excited that our subsidiary, Jexys, will collaborate with Teva in further developing its innovative and promising technology. This is an important vote of confidence for Jexys, and further substantiation of the link between the Hebrew University and Teva.”