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Compugen signs research agreement with Teva Pharmaceutical

Tue Aug 28, 2007 7:03am EDT

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Aug 28 (Reuters) - Israel-based Compugen Ltd (CGEN.O) said it signed a research agreement with Teva Pharmaceutical Industries Ltd (TEVA.O) related to CGEN-54, Compugen's drug candidate for chronic inflammatory diseases.

The agreement covers both an initial research collaboration and an option to Teva for a worldwide exclusive development and commercialization license, the biotechnology company said in a statement.

(Reporting by Sweta Singh in Bangalore)

((Editing by Christina Pantin; Reuters messaging: sweta.singh.reuters.com@reuters.net; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800) Keywords: Compugen AGREEMENT/TEVA

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