More Teva moves to ease looming patent loss pain with Labrys buy
The deal – which will see Teva pay $200m upfront and up to $625m more on the achievement of certain milestones – is focused on the monoclonal antibody (mAb) LBR-101, which is currently in Phase II trials for chronic migraine.
The drug was developed by Rinat Neurosciences. However, in 2006, it was bought by Pfizer along with a second mAb RN1219, since renamed PF-04360365, which is now in a Phase II trial for cerebral amyloid angiopathy after earlier studies in Alzheimer’s were unsuccessful.
Teva said acquiring LBR-101 expands its pain portfolio which includes the blockbuster Copaxone – currently the subject of a complex patent battle – and a second migraine drug, Zecuity, gained in January though the takeover of NuPathe.
News of the planned Labrys deal comes just a day after Teva announced it will reorganise its executive team, appoint an overall chief of product quality and merge its generic business into a global unit under the leadership of Sigurdur Olafsson.
