Teva Pharmaceuticals (TASE, Nasdaq: TEVA) has acquired a worldwide exclusive license to a cancer treatment under development by DeveloGen Israel, according to a press release from the latter.
DeveloGen Israel is a wholly owned subsidiary of the German company DeveloGen.
The technology in question is based on an enzyme called protein kinase B (PKB). The license also gives Teva access to several pre-clinical compounds, which are slated for development in the area of cancer treatment, DeveloGen said on Tuesday.
DeveloGen will receive royalties from commercialized products derived from its PKB technology, it said, adding that Teva could face additional payments depending on milestones.
"With Teva, we have found a strong partner for this highly innovative program," stated Carsten Dehning, chief financial officer of DeveloGen.
source:www.haaretz.com
Sunday, July 1, 2007
Teva buys rights to DeveloGen cancer therapy
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