Teva Pharmaceutical Industries Ltd and Active Biotech announced that the companies' previously announced June 14th agreement to develop and commercialize laquinimod, Active Biotech's novel immunomodulatory compound, which has the potential to be an orally available disease modifying treatment of multiple sclerosis (MS), has been cleared by the United States Federal Trade Commission under Hart-Scott-Rodino Act procedures. With this consent, cooperation between Teva and Active Biotech comes into immediate effect.
Teva Pharmaceutical Industries Ltd, headquartered in Israel, is among the largest generic pharmaceutical companies in the world. The company develops, manufactures, and markets generic and innovative human pharmaceuticals and active pharmaceutical ingredients.
Active Biotech is a biotechnology company focusing on research and development of pharmaceuticals. Most advanced projects include orally administered small molecules with unique immunomodulatory properties that can be used to treat autoimmune and inflammatory diseases, as well as a novel concept for use in cancer immunotherapy.