Royalty Pharma plc. (RPRX) and Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (TEVA), have announced a funding agreement of up to $500 million to advance the clinical development of Teva's anti-IL-15 antibody candidate, TEV-'408, for vitiligo.
TEV-'408 is currently in a Phase 1b trial for the treatment of vitiligo and in a Phase 2a trial for celiac disease. Results from the TEV-'408 trials are anticipated this year.
As per the agreement, Royalty Pharma will provide Teva with up to $500 million to support the ongoing development costs for TEV-'408 in vitiligo. This includes $75 million in R&D co-funding to support a Phase 2b study expected to begin in 2026.
Subject to positive Phase 2b results in vitiligo, Royalty Pharma has the option to invest an additional $425 million to co-fund the Phase 3 development program.
This is the second agreement between Royalty Pharma and Teva, following the 2023 funding support agreement of up to $125 million to cover the development of Teva's olanzapine LAI for schizophrenia.
Vitiligo is a chronic autoimmune skin disease characterised by the loss of pigment-producing cells (melanocytes), resulting in white patches that can appear anywhere on the body. Currently, the treatment options for Vitiligo are limited. Incyte Corp's (INCY) Opzelura is the only topical therapy approved for this condition.
RPRX closed Friday's trade at $40.17%. In the Friday after-hours market, it traded 0.65% lower at $39.
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