Teva will acquire all MicroDose outstanding shares and make additional payments as part of plans to strengthen its respiratory franchise
Teva Pharmaceutical Industries has agreed to purchase MicroDose Therapeutx, a privately-held pharmaceutical and drug delivery company focused on inhalation technologies and products for lung diseases and infections, as part of plans to strengthen its respiratory franchise.
Under the terms of the deal, the Israeli drugmaker will acquire all of MicroDose’s outstanding shares for US$40m and make additional payments of up to $125m. These are dependent on the achievement of regulatory and development milestones, plus sales-based milestones and tiered royalty payments linked to commercialisation of MDT-637 for respiratory syncytial virus (RSV) and an earlier stage asthma/chronic obstructive pulmonary disease (COPD) medicine.
MDT-637 is an inhaled, low dose, small molecule, fusion inhibitor which prevents viral replication. It is delivered via MicroDose’s technology, which includes a multi-dose dry powder nebuliser device.
Michael Hayden, President, Teva Global R&D, and Chief Scientific Officer, said the MicroDose platform ‘is both simple and attractive, and their addition will help us to address the unmet needs of the youngest and oldest patients, who have a requirement for a better way of taking the medicines they rely upon’.