PETAH TIKVA (dpa-AFX) - Teva Pharmaceutical Industries Ltd. (TEVA) announced it has entered into a definitive agreement to acquire MicroDose Therapeutx, a privately-held pharmaceutical and drug delivery company focused on inhalation technologies and products. Teva will acquire all of MicroDose's outstanding shares for a payment at closing of $40 million, additional payments of up to $125 million upon achievement of regulatory and development milestones, plus sales-based milestones and tiered royalty payments upon commercialization of MDT-637 and an earlier stage Asthma/COPD medicine.
Teva said it will now have access to MicroDose's proprietary technology including its multi-dose dry powder nebulizer device, which requires no preparation and can be administered in under 30 seconds.
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