Teva Pharmaceutical (TEVA) Industries and Royalty Pharma (RPRX) announced a $500M funding agreement to accelerate development of TEV-‘408, an anti-IL-15 antibody for vitiligo.
Royalty Pharma will provide up to $500 million, starting with $75 million to co-fund a Phase 2b vitiligo trial planned for 2026. If Phase 2b results support advancement, Royalty Pharma has an option for an additional $425 million toward Phase 3.
Upon approval and launch, Teva (TEVA) will pay Royalty Pharma (RPRX) a milestone payment plus royalties on global net sales of TEV-‘408.
. It marks the second collaboration between Teva and Royalty Pharma, emphasizing funding for high-need autoimmune therapies
