Teva Snaps Up MicroDose Therapeutx in Up To $165M Deal
Teva Pharmaceutical Industries is acquiring MicroDose Therapeutx, a pharma and drug delivery firm focused on inhalation technologies and products for lung diseases like asthma and COPD, as well as respiratory viruses and infections.
Teva is slated to acquire all of MicroDose’s outstanding shares for $40 million, and will provide additional payments of up to $125 million upon the achievement of regulatory and development milestones, plus sales-based milestones and tiered royalty payments upon commercialization of MDT-637—the acquisition target’s lead candidate, for candidate respiratory syncytial virus (RSV)—and an earlier stage asthma/COPD medicine.
“I am thrilled that Teva can now count the exciting MicroDose products and technologies amongst our growing respiratory portfolio,” Michael Hayden, M.D., Ph.D., CSO and president, Teva Global R&D, said in a statement.
Added MicroDose president, CEO, and chairman Anand V. Gumaste: “We believe this agreement provides a unique opportunity to advance MicroDose’s platform technology and development programs for the greatest benefit of patients. Teva has a strong and growing franchise in respiratory diseases, with extensive experience in both delivery mechanisms and novel therapeutic modalities."