TEL AVIV, Israel--(BUSINESS WIRE)--Teva Pharmaceutical Industries Ltd., (NYSE and TASE:TEVA) and Biolojic Design Ltd. ("Biolojic"), a biotechnology company that uses computational biology and artificial intelligence to transform antibodies into intelligent medicinal solutions, today announced an exclusive license agreement to develop a potential novel antibody-based therapy for the treatment of Atopic Dermatitis and Asthma.
BD9 is a dual specific antibody that can block both TSLP (Thymic stromal lymphopoietin) and IL-13, and has the potential to deliver treatment across typically TH2-driven inflammatory diseases, such as atopic dermatitis and asthma. Existing drugs currently approved by health authorities focus on only one of these two drivers of inflammation, and do not respond to pathway dynamics. When TSLP or IL13 is upregulated BD9 can bind to either target with both arms and with high affinity, therefore having the potential to help more patients and improve outcomes.
This agreement supports one of Teva’s key pillars in its Pivot to Growth strategy announced in May 2023, to step up innovation, by enhancing the Company’s early-stage pipeline organically and through strategic partnerships.
Richard Francis, Teva’s President and CEO: “Our Pivot to Growth strategy is opening a new era for Teva as we step up innovation and accelerate development of novel therapies in our immunology pipeline powered both by our inherent antibody engineering capabilities and exciting partnerships. Based on the size of the indications and validity of the targets, this collaboration with Biolojic presents an incredible opportunity to bring this treatment to many patients. As BD9 can tune itself to the specific underlying conditions of the disease and potentially help more patients who do not respond to current therapies and improve outcomes for existing responders and thus addressing a large unmet need."
Yanay Ofran, Ph.D., CEO and founder of Biolojic Design: "We are excited about the opportunity to work with Teva and bring hope to patients. The potential therapy we designed for Atopic Dermatitis and Asthma is another example of how AI can revolutionize drug development. Biolojic’s AI platform allows us to rethink and reimagine what drugs can do. Our platform has already yielded the first AI designed antibody that entered the clinic. As Biolojic continues to focus on developing its internal fully owned pipeline, we are excited that our platform may allow Teva to develop BD9 as a novel therapeutic approach that has the potential to be best-in-class."
Under the terms of the agreement, Teva will receive exclusive rights to develop, manufacture and commercialize BD9 worldwide. In exchange, Biolojic will receive an upfront payment, and will be eligible to receive subsequent milestone payments over the next several years, based on the achievement of certain pre-clinical, clinical, regulatory, and commercial milestones. Biolojic is also eligible to receive tiered royalties in the mid-single to low-double digit on product sales should Teva successfully commercialize a therapy.
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and innovative medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of innovative and biopharmaceutical products. Learn more at www.tevapharm.com.
About Biolojic
Biolojic Design is an Israeli company that aims to transform antibodies into intelligent medicinal solutions through AI and computational design. Biolojic’s AI platform generates computationally designed antibodies that bind to predefined epitopes, thus allowing for the design of specific functions: agonism, antagonism and selective binding. The platform can generate multi-specific antibodies that act as logic gates executing “and” or “or” function and can serve as molecular switches. Biolojic’s pipeline focuses on autoimmune and immuno-oncology, unlocking validated pathways that address large unmet needs.
Teva Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as “should,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to effectively execute our exclusive license agreement with Biolojic; our ability to develop and commercialize a potential novel antibody-based therapy based on Biolojic’s AI-based multibody (BD9) platform for the treatment of Atopic Dermatitis and Asthma; our ability to pay milestone payments under the exclusive license agreement with Biolojic; the risk that we will incur significant costs in connection with the development of the multibody for the treatment of Atopic Dermatitis and Asthma, which may exceed any revenue generated by the product; risks that regulatory approvals and other requirements may delay the development and commercialization of the product; our ability to successfully launch and execute our new Pivot to Growth strategy including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development; our substantial indebtedness; our business and operations in general, including: the impact of global economic conditions and other macroeconomic developments and the governmental and societal responses thereto; compliance, regulatory and litigation matters, including: failure to comply with complex legal and regulatory environments; other financial and economic risks; and other factors discussed in this press release, in our quarterly report on Form 10-Q for the third quarter of 2023 and in our Annual Report on Form 10-K for the year ended December 31, 2022, including in the sections captioned “Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
