Teva has made a further investment in one of its innovative assets after striking a $150m strategic development funding agreement with Abingworth and a clinical collaboration agreement with Launch Therapeutics to accelerate the development of a dual-action asthma rescue inhaler.
The proposed product – codenamed ICS-SABA/TEV-’248 – will benefit from “Launch Therapeutics’ innovative late-stage drug development model” as well as development funding to offset program costs thanks to the two agreements. Teva said the program was in line with its “Pivot To Growth” strategy to “step up innovation and advance its innovative pipeline
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