Active Biotech and Teva Team Up
Lund/Jerusalem - Active Biotech AB and Jerusalem-based Teva Pharmaceutical Industries Ltd. recently signed an agreement to develop and commercialize Laquini-mod, Active Biotech's novel immunomo-dulatory compound for multiple sclerosis (MS). Teva has agreed to make an upfront payment of $5 million to Active Biotech and to conduct and fund further clinical development of Laquinimod. If all milestones are met, payments to the Swedish company would amount to $92 million. “If Laquinimod reaches the market, it will contribute to a better life for MS patients. A success of the project would mean significant royalty streams to Active Biotech,” said CEO Sven Andréasson. Teva will acquire the exclusive rights to develop, register, manufacture and commercialize Laquinimod worldwide, except of the Nordic and Baltic countries, where Active Biotech will retain all commercial rights.