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Teva Pharmaceutical Industries Ltd.
TEVA and Heptares
Therapeutics ("Heptares"), a wholly owned subsidiary of Sosei Group
Corporation ("Sosei"; TSE Mothers Index: 4565) announce that they have
entered into a licensing and drug-discovery agreement under which Teva
will receive exclusive global rights to develop, manufacture and
commercialize novel, small-molecule calcitonin gene-related peptide
(CGRP) antagonists discovered by Heptares for the treatment of migraine.
Under the terms of the agreement, Heptares will receive an upfront
payment of $10 million, research funding, and is eligible to receive
additional research, development and commercialization milestone
payments of up to $400 million. In addition, Heptares will be eligible
to receive royalties on net sales of products resulting from the
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