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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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.