Features | Partner Sites | Information | LinkXpress
Sign In
GLOBETECH PUBLISHING LLC
GLOBETECH PUBLISHING LLC
PZ HTL SA

Teva Pharmaceuticals to Acquire Labrys Biologics

By BiotechDaily International staff writers
Posted on 15 Jun 2014
Teva Pharmaceutical Industries, Ltd. (Petach Tikva, Israel) will acquire Labrys Biologics, Inc. (San Mateo, CA, USA). The acquisition will broaden Teva’s array of biotechnology assets and capabilities.

Teva will purchase Labrys for USD 200 million in upfront payment in cash at closing as well as up to USD 625 million in contingent payments upon achievement of certain pre-launch milestones. Potential peak sales for LBR-101 are estimated to reach USD 2–3 billion. With the goal of becoming a global leader in pain by 2020, the Labrys acquisition adds a significant migraine prophylaxis dimension to Teva’s extensive pain care franchise, which includes a range of investigational, approved, and marketed treatments for migraine, cancer pain, and chronic pain.

Labrys is developing LBR-101, a fully humanized monoclonal antibody that binds to calcitonin gene-related peptide (CGRP) currently in phase IIb clinical trials for prevention of chronic and episodic migraine. Teva’s acquisition of the LBR-101 program targeting high frequency episodic and chronic migraine complements the recent addition of Zecuity, an innovative therapy for the acute treatment of migraine, obtained through the acquisition of NuPathe.

This ability to treat both acute and chronic migraine builds on Teva’s broader pain portfolio, which was recently further strengthened by positive phase III results achieved by Teva’s potential abuse-deterrent extended release hydrocodone. The results gave a clear indication, in a clinical setting, of the promise of Teva’s proprietary technology with potential abuse-deterrent properties in a range of opioid medications.

“Teva is the ideal company to continue Labrys’ efforts to rapidly advance the LBR-101 program and bring a much needed product to market,” said Steven P. James, Labrys’ president and chief executive officer. “Since closing a Series A investment round in 2013, Labrys has made remarkable strides advancing LBR-101 in a robust phase 2 development program and attracting a high caliber company in Teva to complete clinical development.”

Related Links:

Teva Pharmaceutical Industries
Labrys Biologics



comments powered by Disqus

Channels

Genomics/Proteomics

view channel
Image: This novel, flexible film that can react to light is a promising step toward an artificial retina (Photo courtesy of the American Chemical Society).

Novel Nanofilm May Be Artificial Retina Precursor

Researchers have used advanced nanotechnology techniques to develop a light-sensitive film that has potential for future artificial retina applications. Investigators at the Hebrew University of Jerusalem... Read more

Drug Discovery

view channel
Image: The new peptide offers a triple hormone effect in a single-cell molecule (Photo courtesy of Indiana University).

Tripeptide Drug Effectively Controls Metabolic Syndrome in Rodent Model

Promising results in reducing obesity and normalizing glucose metabolism obtained with a synthetic dipeptide drug have been enhanced by the addition of a molecule of a third hormone, glucagon.... Read more

Biochemistry

view channel

Blocking Enzyme Switch Turns Off Tumor Growth in T-Cell Acute Lymphoblastic Leukemia

Researchers recently reported that blocking the action of an enzyme “switch” needed to activate tumor growth is emerging as a practical strategy for treating T-cell acute lymphoblastic leukemia. An estimated 25% of the 500 US adolescents and young adults diagnosed yearly with this aggressive disease fail to respond to... Read more
 
Copyright © 2000-2014 Globetech Media. All rights reserved.