Teva, Heptares Announce Agreement to Discover and Develop Novel, Small-Molecule CGRP Antagonists for Treatment of Migraine - Teva Pharmaceutical Indus (NYSE:TEVA)

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Teva Pharmaceutical Industries Ltd. (NYSE: 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 See full press release

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