Teva partners with Microchips Biotech to explore implantable drug delivery device
JERUSALEM and LEXINGTON, Mass. — Teva and Microchips Biotech have announced a partnership that would test Microchips implantable drug delivery device with Teva’s portfolio.
The company’s microchip-based implant works as an implanted delivery system that can store hundreds of doses of a drug over the course of months or years. The partnership’s hope is to increase outcomes for patients with chronic drug therapies. The implant can be controlled with a remote and all dosages programmed to be dispensed on a set schedule.
“The microchip-based implant is truly at the intersection of digital technology and medicine and the future of drug delivery for patients who cannot tolerate needles, require regular self-administered injections or where compliance is critical to outcomes,” Teva’s chief scientific officer and president of global research and development Michael Hayden said. “At Teva we are leading innovation in medicine with promising new drugs and solutions for drug adherence to improve patient outcomes and reduce unnecessary healthcare complications.”
As part of the agreement, Teva will pay $35 million upfront to Microchips Biotech as a technology access fee and equity investment to test one disease area, with the option to expand beyond that in the future. Teva will cover the cost of phase II and III trials and handle all regulatory filings. Microchips Biotech will receive funding from Teva to develop products for future indications, and receive royalties on future product sales and receive development and commercial milestone payments.
“We are thrilled to be aligned with an organization that sees the potential of our technology to transform the way medications are delivered to patients, providing the potential to increase compliance and significantly improve outcomes,” Microchips Biotech CEO Cheryl Blanchard said. “This is the first of what we hope to be many partnerships with industry to leverage our technology across a broad array of therapeutic applications and disease states.”