Blackstone Life Sciences has brokered a $400M strategic funding agreement with Teva Pharmaceutical (TEVA) to support development of duvakitug, a phase 3 asset for ulcerative colitis and Crohn’s disease.
The funds will be spread out over four years.
Teva will pay Blackstone a milestone payment if the candidate is approved. Blackstone is also eligible to receive commercial milestones and low single-digit royalties on duvakitug global sales.
Duvakitug is being co-developed and co-commercialized with Sanofi (SNY).
Teva and Sanofi released phase 2b maintenance data on duvakitug in February.
