Procognia (Israel) will supply Teva Pharmaceutical Industries with services and access to its proprietary glycoanalysis technology on an exclusive basis
Teva Pharmaceutical Industries will fund the costs of the collaboration and pay certain milestones and royalties to Procognia (Israel) subject to pre-defined achievements relating to the usage of the technology in the development of the biopharmaceuticals.
"We believe that accessing the Procognia technology will provide Teva with a distinct competitive advantage," said Amir Elstein, group vice president - global specialty pharmaceutical products of Teva Pharmaceutical Industries.
He added, "Glyco-analysis is a complex task in producing biopharmaceuticals.
"Accessing the technology and skill set from Procognia should significantly benefit both the development and manufacturing processes".
"We are delighted that our first major collaboration in this sector is with a recognised industry leader," said Shaike Yakir, President of Procognia (Israel) "where the deal structure illustrates the potential advantages that our novel analytical platform can provide."
