BioCentury
ARTICLE | Company News

Clal, Teva deal

March 3, 2014 8:00 AM UTC

Clal's Andromeda Biotech Ltd. subsidiary will pay Teva about $72 million to reacquire exclusive, worldwide rights to commercialize DiaPep277. The payment also covers Andromeda's repurchase of Teva's 16% equity stake in Andromeda, which granted Teva commercialization rights to DiaPep277 in 2009. Andromeda said the deal was mutually agreed upon. Teva declined to disclose further details (see BioCentury, Dec. 17, 2007 & June 29, 2009). ...