Teva Pharmaceutical has entered into definitive agreement to purchase MicroDose Therapeutx, a privately-held pharmaceutical and drug delivery company focused on inhalation technologies.
According to the terms of the deal, Teva will pay $40m to acquire MicroDose. The Israel-based firm will also make additional payments of up to $125m following achievement of regulatory and development milestones, besides sales-based targets and tiered royalty payments upon commercialisation of MDT-637 and an earlier stage Asthma/COPD medicine.
With the acquisition of MicroDose’s technologies and products, Teva will be expanding its respiratory pipeline.
Teva will gain access to MicroDose’s proprietary technology including its multi-dose dry powder nebulizer device, which does not require any preparation and can be administered within half a minute.
MicroDose’s current pipeline is led by MDT-637 for respiratory syncytial virus (RSV) – an inhaled, low dose, small molecule, fusion inhibitor that prevents viral replication, delivered via MicroDose’s technology.
Teva Global R&D, and chief scientific officer and president Michael Hayden said that the Teva will be able to count the MicroDose products and technologies amongst its growing respiratory portfolio.
"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," Hayden added.
MicroDose chairman, CEO and president Anand V. Gumaste said that the company believes this agreement provides a unique opportunity to advance MicroDose’s platform technology and development programs for the benefit of patients.
"Teva has a strong and growing franchise in respiratory diseases, with extensive experience in both delivery mechanisms and novel therapeutic modalities. Teva also has a worldwide market presence and leading global supply chain," Gumaste added.