CureTech, in reporting positive results for its CT-011, anti-PD-1, therapy against relapsed lymphoma, spurred Teva to increase its investment in the company by another $19 M. Teva will also commit up to another $50 M on top of that to fund late stage R&D. Thus, Teva now owns 75% of the company and has the option to purchase the final 25%.
"The investment is part of Teva's strategy to expand our branded activities into specialty therapeutic areas, such as oncology," said Dr. Aharon Schwartz, head ot Teva's Innovative Ventures. See Fierce Biotech.
Teva marches on in diversifying its portfolio of small molecule generics, to biosimilars and now increasingly to innovator drugs, particularly in the cancer area at present. I still maintain that within the next 5 years many companies will have similar mixed portfolios and the distinction between "innovator" and "generic or biosimilar" producer will become increasingly blurred if not mostly meaningless.
Posted by Bruce Lehr Sep 13th 2011.