trending Market Intelligence /marketintelligence/en/news-insights/trending/qxpmsx_vtvviy7oex6v5jq2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Teva returns rights to Active Biotech's brain disease drug after trial failures

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Teva returns rights to Active Biotech's brain disease drug after trial failures

Teva Pharmaceutical Industries Ltd has returned the global rights to Active Biotech AB's medicine for neurodegenerative diseases after ceasing clinical development of the drug.

Israel's Teva secured the rights to laquinimod in 2014 for an upfront payment of $5 million, plus another $92 million if the medicine met certain milestones. Laquinimod, however, failed in trials for treating Huntington's disease and multiple sclerosis. But the drug did succeed in reducing brain atrophy, a common feature of many diseases that affect the brain. Brain atrophy is a loss of neurons in the brain.

Active Biotech CEO Helén Tuvesson said the company "will assess all opportunities for a continuation of the development of laquinimod."

As of 1:12 p.m. Central European Summer Time, Sweden-based Active Biotech's stock was down 5.95% on the Nasdaq OMX Nordic Exchange.