Teva Pharmaceutical (NYSE:TEVA) and Shanghai Fosun Pharmaceutical announced a collaboration on Monday to develop TEV-56278, a new therapy aimed at treating various cancers through an anti-PD1-IL2 attenukine approach.
According to the partnership agreement, Fosun Pharma will have exclusive rights to develop, manufacture, and market TEV-56278 in mainland China, Hong Kong, Macau, Taiwan, and selected Southeast Asian nations.
Meanwhile, Teva will maintain all rights related to development, production, and commercialization of the drug in other parts of the world, the company said.
TEV-56278 is currently being tested both as a standalone treatment and in combination with pembrolizumab.
TEVA stock is up 2% premarket.
More on Teva Pharmaceutical
- Teva Pharmaceutical Industries Limited (TEVA) Presents at Goldman Sachs 46th Annual Global Healthcare Conference Transcript
- Teva Pharmaceutical Industries Limited (TEVA) Presents at Jefferies Global Healthcare Conference Transcript
- Why Investors Should Watch Teva Despite Regional Risks
- Teva, Amneal rated Buy, Viatris Neutral as Goldman Sachs reviews generics space
- Teva Pharmaceutical prices and manages debt