Teva and mAbxience Expand Strategic Partnership to include an additional Oncology Biosimilar Candidate
- The expansion of the strategic partnership reinforces the solid foundation of the collaborative efforts that commenced in April 2024
- The collaboration supports Teva's Pivot to Growth strategy and adds to the company's biosimilar portfolio
- Both companies reaffirm their shared commitment to making high-quality, affordable treatments accessible to patients worldwide
TEL AVIV, ISRAEL and MADRID, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Teva Pharmaceuticals International GmbH, a subsidiary of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) and mAbxience, a Fresenius Kabi majority-owned group with partial ownership from Insud Pharma, today announced a new global licensing agreement for the development of an anti PD-1 oncology biosimilar candidate. This marks the second agreement between the two companies, reinforcing the solid foundation of the collaborative efforts that commenced in April 2024.
The global agreement to develop an additional oncology biosimilar further strengthens the alliance between Teva and mAbxience, underscoring the shared goal to provide cost-effective, high-quality biosimilar treatments that address critical unmet needs in oncology care. By leveraging each company's unique expertise and resources, the collaboration continues to drive innovation and accessibility in healthcare to create solutions for patients worldwide.
The licensing agreement includes exclusive rights for multiple markets, including Europe and the United States, and aligns with mAbxience's strategy for global expansion. The collaboration reflects Teva's progress advancing its Pivot to Growth strategy by adding a new biosimilar to the company's broad portfolio of biosimilars, through focused partnerships and business development efforts.
Similar to the initial contract, under the terms of this agreement, mAbxience will lead the development and production of the biosimilar, utilizing its state-of-the-art, cGMP-compliant facilities in Spain and Argentina. Teva will manage regulatory approvals and oversee commercialization in the designated markets, ensuring that patients around the world gain access to this oncology treatment.
Angus Grant, PhD, Executive Vice President of Business Development at Teva, said, "We are excited to deepen our collaboration with mAbxience. This agreement not only strengthens our alliance but also highlights our shared dedication to expanding access to critical oncology treatments. This collaboration with mAbxience reflects Teva's ideal strategic partnership model to optimize development costs, apply our regulatory expertise and leverage our extensive commercial capabilities to bring new treatment options to people living with serious medical conditions."
"Building on our first agreement with Teva signed earlier this year, this second collaboration is a testament to the strength of our partnership and the shared vision of both companies," added Jurgen Van Broeck, CEO of mAbxience. "This agreement reinforces our commitment to making high-quality biosimilars accessible and improving healthcare outcomes on a global scale."
About Teva
Teva (NYSE and TASE: TEVA) is a global pharmaceutical leader with a category-defying portfolio, harnessing our generics expertise and stepping up innovation to continue the momentum behind the discovery, delivery, and expanded development of modern medicine. For over 120 years, Teva's commitment to bettering health has never wavered. Today, the company's global network of capabilities enables its ~37,000 employees across 58 markets to push the boundaries of scientific innovation and deliver quality medicines to help improve health outcomes of millions of patients every day. To learn more about how Teva is all in for better health, visit www.tevapharm.com.
About mAbxience
mAbxience is a Spanish-based company specializing in the development, production, and commercialization of biopharmaceuticals. In August 2022, Fresenius Kabi and Insud Pharma entered into an agreement whereby Fresenius Kabi, an operating company of Fresenius, acquired a majority stake of mAbxience, making it a global, vertically integrated biotechnology company. With over a decade of expertise, our mission is clear: to provide accessible, affordable medicines across the globe, aiming to enhance the quality of life by ensuring universal access to high-caliber medicines. With two market-approved products and a robust pipeline in development, we have established a B2B presence in over 100 markets. Alongside this, we have formed a network with more than 30 partners and built a dedicated team of over 1,000 professionals. Our three multi-product facilities, located in Europe and South America, have obtained GMP approval from esteemed regulatory bodies, including the FDA, EMA, and others. Furthermore, as a global biopharmaceutical expert, mAbxience specializes in Contract Development and Manufacturing Organization services (CDMO), utilizing advanced technology and innovative platforms to deliver integrated manufacturing solutions. For more insights into mAbxience, our biosimilars and CDMO business, please visit our website (www.mabxience.com) or connect with us on LinkedIn.
Teva Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. You can identify these forward-looking statements by the use of words such as "should," "expect," "anticipate," "estimate," "target," "may," "project," "guidance," "intend," "plan," "believe" and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance. Important factors that could cause or contribute to such differences include risks relating to: our ability to effectively execute and expand our collaboration with mAbxience for the development of oncology biosimilar candidates; our ability to lead the regulatory processes and commercialization of such biosimilar candidates in the designated markets; risks that regulatory approvals and other requirements may delay the development and commercialization of the biosimilar candidates; our ability to successfully launch and execute our Pivot to Growth strategy, including to expand our innovative and biosimilar medicines pipeline and profitably commercialize the innovative medicines and biosimilar portfolio, whether organically or through business development; and other factors discussed in this press release, in our Quarterly Report for the second quarter of 2024, and in our Annual Report on Form 10-K for the year ended December 31, 2023, including in the sections captioned "Risk Factors." Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
mAbxience contacts:
Media
Miguel Martínez-Cava, Global External Communication Manager: [email protected]
Teva contacts
Media Contacts
Kelley Dougherty +1 (973) 832-2810
Eden Klein +972 (3) 906-2645
IR Contacts
Ran Meir +1 (267) 468-4475
Yael Ashman +972 (3) 914-8262
Sanjeev Sharma +1 (973) 658 2700
