Teva, Launch Therapeutics enter clinical collaboration agreement

Teva (TEVA) and Launch Therapeutics announced a clinical collaboration agreement to further accelerate the clinical research program of Teva’s ICS-SABA. Teva and Abingworth, part of global investment firm Carlyle (CG), also announced a strategic development funding agreement in which Abingworth provides Teva up to $150M to offset Teva’s ICS/SABA program costs. As part of the clinical collaboration agreement, Launch Therapeutics, a clinical development company backed by Abingworth and Carlyle, will have the lead role in the operational execution and management of the planned clinical trials, focused on accelerating Teva’s ICS-SABA clinical research program. Teva will retain primary responsibility for manufacturing, regulatory interactions in the U.S., and commercialization. If TEV-‘248 receives U.S. FDA regulatory approval, Abingworth will be eligible to receive fixed payments as well as success payments based on ICS/SABA sales. Teva will recognize the funding as a reduction in research and development expenses and will retain full rights to the company’s ICS/SABA program. Teva’s TEV-‘248 has potential to be the first ICS/SABA for both adult and pediatric indications, combining fluticasone propionate and albuterol sulfate delivered via Teva’s breath-activated, multi-dose dry powder inhaler, which is used with other approved medicines in Teva’s respiratory product portfolio.