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Teva Pharmaceutical Industries Ltd Strengthens Respiratory Franchise with Acquisition of MicroDose Therapeutx

Monday, 17 Jun 2013 09:30am EDT 

Teva Pharmaceutical Industries Ltd announced that it has entered into a definitive agreement to acquire MicroDose Therapeutx, a privately-held pharmaceutical and drug delivery company focused on inhalation technologies and products for lung diseases and infections with the potential to improve efficacy and patient compliance. With the addition of MicroDose`s technologies and products, Teva is taking a step toward expanding its respiratory pipeline. Teva will now have access to MicroDose`s technology including its multi-dose dry powder nebulizer device, which requires no preparation and can be administered in under 30 seconds. MicroDose`s current pipeline is anchored by MDT-637 for respiratory syncytial virus (RSV) - an inhaled, low dose, small molecule, fusion inhibitor which prevents viral replication, delivered via MicroDose`s technology. Under the terms of the deal, Teva will acquire all of MicroDose`s outstanding shares for a payment at closing of $40 million, additional payments of up to $125 million upon achievement of regulatory and development milestones, plus sales-based milestones and tiered royalty payments upon commercialization of MDT-637 and an earlier stage Asthma/COPD medicine. Stifel acted as exclusive financial advisor to MicroDose Therapeutx in this transaction. 

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190.0 +1.00%
8:34am EDT