Teva invests $7.5 million in Cocrystal Discovery for novel hepatitis C antiviral

18 September 2011

In a further move to boost its non-generics activities, Israel’s Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) has signed a collaboration option to license and share purchase agreements to invest in USA-based start-up Cocrystal Discovery (CDI), which is focused on the discovery and development of novel antiviral therapeutics for the treatment of serious and chronic viral diseases.

“Through this agreement, CDI is now ideally placed to accelerate the development of our novel platform, which combines high resolution X-ray crystallography with unique and advanced computational methods. It is our hope we can yield new and better drugs for the treatment and prevention of many viral diseases.”

This investment will be utilized by CDI to continue its development program of novel antiviral drugs that target viral replication enzymes. Currently, CDI is using its unique technologies to develop oral, once-a-day, broad-spectrum antivirals for the treatment of Hepatitis C, influenza and rhinovirus (common cold).

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