Goodwin’s Life Sciences team advised Nuvelution Pharma, Inc. as it entered into a partnership with Teva Pharmaceutical Industries Ltd. to accelerate the development of AUSTEDO® tablets for the treatment of tics associated with Tourette syndrome in pediatric patients in the United States. This novel agreement provides a creative risk-sharing funding framework for progressing a promising pipeline opportunity into an approved product, with a success-based investment return for Nuvelution.
Under the terms of the agreement, Nuvelution will fund and manage clinical development, driving all operational aspects of the Phase III program, which is expected to commence later this year.
Nuvelution Pharma leverages its extensive knowledge, experience and relationships in the pharma and biotech industries to deploy capital in risk-sharing collaborations with companies where product development can be facilitated by both capital and human resources with the goal of making this model an essential tool for pharma and biotech companies to bring products to the market.
Teva Pharmaceutical Industries Ltd. is a leading global pharmaceutical company that delivers high-quality, patient-centric healthcare solutions used by approximately 200 million patients in over 60 markets every day.
The Goodwin team was led by partners Richard Hoffman and included partner Richard Matheny and counsel Brian Mukherjee.
For additional details, please read the press release.