Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries, and Royalty Pharma, have signed a funding agreement worth up to $500 million. This investment will accelerate the clinical development of Teva's new drug, TEV-'408, an anti-IL-15 antibody designed to treat various immune-mediated diseases. Early data from a vitiligo study suggests IL-15 is a promising target for autoimmune conditions. Teva expects to release full trial results in 2026.

“Strategic collaborations fuel innovation. This agreement with Royalty Pharma enables us to advance our science more efficiently and accelerate our pipeline to deliver meaningful solutions for patients worldwide,” said Richard Francis, Teva’s President and CEO.

“Vitiligo represents a significant unmet need, with only one approved topical treatment currently available and no systemic options. We are dedicated to driving scientific progress that brings new, effective therapies to people living with chronic autoimmune diseases.”

"We are delighted to enter into this second collaboration with Teva as they advance the development of TEV-‘408,” said Pablo Legorreta, Chief Executive Officer and Chairman of the Board of Royalty Pharma. “Vitiligo is a chronic autoimmune skin disease that can have a profound emotional and psychosocial burden, yet current treatment options are insufficient. Our continued collaboration underscores Royalty Pharma’s role as a long-term, trusted partner with a focus on funding innovation in potentially transformative and practice changing therapies.”

Under the terms of the agreement, Royalty Pharma will provide Teva up to $500 million to fund ongoing development costs for TEV-‘408 in vitiligo. This is comprised of $75 million in R&D co-funding to conduct a Phase 2b study targeted to start in 2026. Based on the future results from Phase 2b in vitiligo, Royalty Pharma will have an option to provide an additional $425 million to co-fund the Phase 3 development program. If approved and launched, Teva will pay a milestone to Royalty Pharma and a royalty on worldwide net sales of TEV-’408.