Supplier News Breaks
Teva to buy MicroDose Therapeutx
June 17th, 2013
JERUSALEM – Teva Pharmaceutical Industries Ltd. has agreed to acquire MicroDose Therapeutx, which specializes in respiratory pharmaceutical products and drug delivery technologies.
Teva said Monday that MicroDose’s technologies and products, which focus on inhalation technologies and products for lung diseases and infections with the potential to dramatically improve efficacy and patient compliance, will expand its respiratory pipeline.
The Israel-based pharmaceutical company noted that it will now have access to MicroDose's proprietary technology, including its multidose dry-powder nebulizer device, which requires no preparation and can be administered in less than 30 seconds.
MicroDose's current pipeline is anchored by MDT-637 for respiratory syncytial virus (RSV), an inhaled, low-dose, small-molecule fusion inhibitor that prevents viral replication, delivered via the company's technology, Teva said.
"I am thrilled that Teva can now count the exciting MicroDose products and technologies amongst our growing respiratory portfolio. The MicroDose platform is both simple and attractive, and their addition will help us to address the unmet needs of the youngest and oldest patients, who have a requirement for a better way of taking the medicines they rely upon," commented Michael Hayden, president of Teva Global R&D and chief scientific officer.
Under the deal, 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.
"We believe this agreement provides a unique opportunity to advance MicroDose's platform technology and development programs for the greatest benefit of patients," stated Anand Gumaste, chairman, president and chief executive officer of MicroDose. "Teva has a strong and growing franchise in respiratory diseases, with extensive experience in both delivery mechanisms and novel therapeutic modalities. Teva also has a worldwide market presence and leading global supply chain."
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