Royalty Pharma plc (RPRX) and Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (TEVA), have entered into a funding agreement of up to $500 million to accelerate the clinical development of Teva's anti-IL-15 antibody, TEV-408. IL-15 is a key cytokine involved in multiple immune-mediated disease pathways. Early Phase 1b data from Teva's ongoing vitiligo study suggests IL-15 could be a promising therapeutic target for a broad range of autoimmune conditions. Teva expects to share trial results in 2026.
Under the terms of the agreement, Royalty Pharma will provide Teva with up to $500 million to support ongoing development costs for TEV-408 in vitiligo. This includes $75 million in R&D co-funding to initiate a Phase 2b study, which is planned to begin in 2026. Depending on the outcomes of the Phase 2b trial, Royalty Pharma will have the option to contribute an additional $425 million to co-fund the Phase 3 development program.
If TEV-408 is successfully approved and launched, Teva will pay Royalty Pharma a milestone payment along with royalties on worldwide net sales of the therapy.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.