Teva ups stake in CureTech to 75% following positive clinical results in lymphoma

14 September 2011

Israel-based Teva Pharmaceutical Industries (Nasdaq: TEVA) says it is exercising its option to make an additional $19 million investment in privately-held Israeli biotech firm CureTech, which specializes in developing cancer treatments, and to finance up to $50 million of the company's R&D program.

Teva’s decision follows the positive final results from a Phase II trial in diffuse large B-Cell lymphoma (DLBCL) using CT-011, an investigational anti-PD-1 monoclonal antibody. The study met its primary end point and results showed significant improvement in both the overall survival and the progression-free-survival of the patients.

Under the terms of the recently amended agreements between Teva, CureTech and its shareholders, Teva’s investment will bring its holdings in CureTech to 75%. Teva holds the option to reach full ownership of CureTech.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK