Teva inks deal with Heptares Therapeutics for migraine treatments

• Teva Pharmaceutical Industries (NYSE:TEVA) enters into a licensing and drug discovery agreement with Sosei Group's (OTCPK:SOLTF) Heptares Therapeutics for exclusive global rights to develop, manufacture and commercialize novel, small molecule calcitonin gene-related peptide (CGRP) antagonists discovered by Heptares for the treatment of migraine.
• Under the terms of the agreement, Heptares will receive an upfront payment of $10M, research funding, milestones up to $400M and royalties on commercial sales.
• Teva President of Global R&D and CSO Michael Hayden, M.D., Ph.D., says, "CGRP antagonism represents an exciting opportunity to treat migraine. We believe small molecule CGRP antagonists offer further opportunities that are highly complementary to our promising candidate, TEV-48125, an anti-CGRP antibody."
• About 36M Americans, 55M Europeans and 8M Japanese suffer from migraine.