Teva and AbCellera Enter Into Agreement to Discover Rare Monoclonal Antibodies
(Thomson Reuters ONE) -
Agreement Further Supports Teva's Novel Biologics Development Program
JERUSALEM and VANCOUVER, British Columbia, Feb. 02, 2016 (GLOBE NEWSWIRE) --
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) (TASE:TEVA) and AbCellera have
entered into a collaborative research agreement whereby AbCellera will apply its
high-throughput single cell antibody platform for the discovery of rare
monoclonal antibodies.
"We are pleased to work with AbCellera utilizing this company's novel biologics
technology," said Michael Hayden, MD, PhD, President of Global R&D and Chief
Scientific Officer at Teva. "This agreement will be complementary to our
existing antibody discovery process with the potential to strengthen Teva's
capabilities in novel biologics discovery."
Under the terms of the agreement, AbCellera will receive an upfront payment,
research payments, and is eligible to receive undisclosed downstream milestones
associated with the development and approval of therapeutic antibodies.
"These are tough problems that need new technologies to move them forward. Our
platform brings important advantages to enable the discovery of rare antibodies
with defined specificity and functional activity against difficult membrane
protein targets," said Dr. Carl Hansen, President and CEO of AbCellera. "We look
forward to a close collaboration with the team of scientists at Teva, and are
excited at the chance to help advance this important program."
About Teva
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) (TASE:TEVA) is a leading global
pharmaceutical company that delivers high-quality, patient-centric healthcare
solutions to millions of patients every day. Headquartered in Israel, Teva is
the world's largest generic medicines producer, leveraging its portfolio of more
than 1,000 molecules to produce a wide range of generic products in nearly every
therapeutic area. In specialty medicines, Teva has a world-leading position in
innovative treatments for disorders of the central nervous system, including
pain, as well as a strong portfolio of respiratory products. Teva integrates its
generics and specialty capabilities in its global research and development
division to create new ways of addressing unmet patient needs by combining drug
development capabilities with devices, services and technologies. Teva's net
revenues in 2014 amounted to $20.3 billion. For more information,
visit www.tevapharm.com.
About AbCellera Biologics Inc.
AbCellera is a privately held company that has developed a high-throughput
platform for the rapid discovery of therapeutic antibodies directly from natural
immune cells. The company's proprietary single cell technology can be applied
across multiple species and provides flexible assay formats to identify
antibodies with defined properties at a throughput of millions of B cells per
run. In addition to internal programs, AbCellera provides pharmaceutical and
biotechnology partners with access to state-of-the-art antibody discovery
capabilities to advance and accelerate therapeutic development. For more
information, visit http://www.abcellera.com.
Teva's Safe Harbor Statement under the U. S. Private Securities Litigation
Reform Act of 1995:
This release contains forward-looking statements, which are based on
management's current beliefs and expectations and involve a number of known and
unknown risks and uncertainties that could cause our future results, performance
or achievements to differ significantly from the results, performance or
achievements expressed or implied by such forward-looking statements. Important
factors that could cause or contribute to such differences include risks
relating to: our ability to develop and commercialize additional pharmaceutical
products; competition for our specialty products, especially Copaxone®
(including competition from orally-administered alternatives, as well as from
generic equivalents such as the recently launched Sandoz product) and our
ability to continue to migrate users to our 40 mg/mL version and maintain
patients on that version; our ability to identify and successfully bid for
suitable acquisition targets or licensing opportunities (such as our pending
acquisitions of Allergan's generic business and Rimsa), or to consummate and
integrate acquisitions; the possibility of material fines, penalties and other
sanctions and other adverse consequences arising out of our ongoing FCPA
investigations and related matters; our ability to achieve expected results from
the research and development efforts invested in our pipeline of specialty and
other products; our ability to reduce operating expenses to the extent and
during the timeframe intended by our cost reduction program; the extent to which
any manufacturing or quality control problems damage our reputation for quality
production and require costly remediation; increased government scrutiny in both
the U.S. and Europe of our patent settlement agreements; our exposure to
currency fluctuations and restrictions as well as credit risks; the
effectiveness of our patents, confidentiality agreements and other measures to
protect the intellectual property rights of our specialty medicines; the effects
of reforms in healthcare regulation and pharmaceutical pricing, reimbursement
and coverage; governmental investigations into sales and marketing practices,
particularly for our specialty pharmaceutical products; adverse effects of
political or economic instability, major hostilities or acts of terrorism on our
significant worldwide operations; interruptions in our supply chain or problems
with internal or third-party information technology systems that adversely
affect our complex manufacturing processes; significant disruptions of our
information technology systems or breaches of our data security; competition for
our generic products, both from other pharmaceutical companies and as a result
of increased governmental pricing pressures; competition for our specialty
pharmaceutical businesses from companies with greater resources and
capabilities; the impact of continuing consolidation of our distributors and
customers; decreased opportunities to obtain U.S. market exclusivity for
significant new generic products; potential liability in the U.S., Europe and
other markets for sales of generic products prior to a final resolution of
outstanding patent litigation; our potential exposure to product liability
claims that are not covered by insurance; any failure to recruit or retain key
personnel, or to attract additional executive and managerial talent; any
failures to comply with complex Medicare and Medicaid reporting and payment
obligations; significant impairment charges relating to intangible assets,
goodwill and property, plant and equipment; the effects of increased leverage
and our resulting reliance on access to the capital markets; potentially
significant increases in tax liabilities; the effect on our overall effective
tax rate of the termination or expiration of governmental programs or tax
benefits, or of a change in our business; variations in patent laws that may
adversely affect our ability to manufacture our products in the most efficient
manner; environmental risks; and other factors that are discussed in our Annual
Report on Form 20-F for the year ended December 31, 2014 and in our other
filings with the U.S. Securities and Exchange Commission.
IR Contacts: Kevin C. Mannix United States (215) 591-8912
Ran Meir United States (215) 591-3033
Tomer Amitai Israel 972 (3) 926-7656
PR Contacts: Iris Beck Codner Israel 972 (3) 926-7687
Denise Bradley United States (215) 591-8974
Nancy Leone United States (215) 284-0213
AbCellera Contact: Kevin Heyries Canada (604) 827-4151
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: AbCellera via GlobeNewswire
[HUG#1982915]
Unternehmensinformation / Kurzprofil:
Datum: 02.02.2016 - 14:00 Uhr
Sprache: Deutsch
News-ID 448088
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"Teva and AbCellera Enter Into Agreement to Discover Rare Monoclonal Antibodies"
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