On Monday, MedinCell welcomed the collaboration agreement between its partner Teva and Royalty Pharma, a US investor specializing in biopharmaceutical innovation.

Under the terms of the agreement, Teva will receive up to $125 million in R&D funding from Royalty Pharma to accelerate the development of a long-acting subcutaneous injectable formulation of olanzapine for the treatment of schizophrenia, a device that uses technology developed by the French company.

The mdc-TJK drug candidate consists of a monthly subcutaneous long-acting injection of olanzapine - an atypical antipsychotic - currently in phase 3 clinical trial for the treatment of schizophrenia.

Data from the phase 3 trial surrounding this product are now expected in the second half of 2024, rather than 2025.

The financing agreement between Teva and Royalty Pharma in no way affects the future revenues to which MedinCell is entitled, says the biopharmaceutical company, which points out that it could receive up to $117 million over the next few years in milestone and commercial payments for mdc-TJK, not counting royalties on all net sales.

After Uzedy, approved by the FDA for the treatment of schizophrenia in adults in April 2023, mdc-TJK is the second product developed by Teva using MedinCell's proprietary long-acting injectable technology.

Listed on the Paris Bourse, the share reacted little to this news on Monday, shedding just over 0.8% in late morning trading.

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