PETAH TIKVA (dpa-AFX) - Teva Pharmaceutical Industries Ltd. (TEVA) and Shanghai Fosun Pharmaceutical (Group) Co., Ltd. Monday said that they have partnered to develop TEV-56278.
Teva's TEV-56278 utilizes the company's proprietary Attenukine technology, a new mechanism of action, potentially offering high efficacy and low toxicity in a broad array of oncology indications.
As per the deal, which aims to accelerate clinical data generation for TEV-56278, Fosun Pharma gets an exclusive license to develop and sell TEV-56278 in Chinese mainland, Hong Kong Special Administrative Region (SAR), Macau SAR and Taiwan region and select Southeast Asian countries. Teva retains its rights to the licensed molecule in the rest of the world.
'This collaboration brings together Teva's expertise in innovative drug development with Fosun Pharma's strong oncology development experience and commercial capabilities in the China market, creating a powerful synergy to accelerate the delivery of this important therapy to patients globally,' said Xingli WANG, Executive President of Fosun Pharma and CEO of the Global R&D Center.
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