Teva and Procognia sign exclusive R&D deal

Teva Pharmaceutical Industries and fellow Israel-based Procognia, a wholly-owned subsidiary of the UK's Procognia, say they have entered into a deal covering the development of two new biopharmaceutical compounds.

Under the terms of the deal, Procognia will supply Teva with exclusive access to its glyco-analsysis technology for use in the research. In return, Teva will pay all the costs arising from the accord, in addition to certain milestones and royalties to its partner, based on the achievement of predefined development goals. Financial details of the agreement were not disclosed.

Amir Elstein, Teva group's vice president of global specialty pharmaceutical products, said: "we believe that accessing the Procognia technology will provide Teva with a distinct competitive advantage," adding that "glyco-analysis is a complex task in producing biopharmaceuticals. Accessing the technology and skill set from Procognia should significantly benefit both the development and manufacturing processes."