Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) and AbCellera have entered into a collaborative research agreement for AbCellera to apply its high-throughput single cell antibody platform for the discovery of rare monoclonal antibodies.
Teva president of Global R&D and Chief Scientific Officer Dr. Michael Hayden said, "We are pleased to work with AbCellera utilizing this company’s novel biologics technology. 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.
AbCellera president and CEO Dr. Carl Hansen said, “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. 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.”
Published by Globes [online], Israel business news - www.globes-online.com - on February 2, 2016
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