Optimata to Collaborate with Teva Pharmaceutical Industries Ltd. on Clinical Development of Solid Tumor Cancer Drugs
RAMAT GAN, Israel -- Optimata Ltd. announced today that it has signed a collaboration agreement with Teva Pharmaceutical Industries Ltd. focused on clinical development of drug candidates for solid tumor cancers. The agreement is intended to efficiently rescue and redirect the clinical development of discontinued drug candidates which have been shelved by their originators pharmaceutical companies, using Optimata's bio-simulation technology known as the Optimata Virtual Patient® (OVP).
Under the terms of the collaboration:
Optimata will receive upfront payments, development milestones and royalty payments; in a separate agreement, Teva Pharmaceutical Industries Ltd. has also made an undisclosed equity investment in Optimata Ltd.
Dr. Pini Orbach, COO of Optimata, commented: "Having Teva Pharmaceutical Industries Ltd. as a partner is clearly a transforming event in the history of our company. With this new collaboration we continue to fulfill Optimata's goal of accelerating the oncology drug development process."
About the Optimata Virtual Patient®
The Optimata Virtual Patient® is a unique predictive biosimulation technology, comprising computer-implemented mathematical algorithms of key physiological, pathological and pharmacological processes in the body of the patient. It thoroughly unfolds drug - patient dynamic interactions, enabling drug developers to perform rapid numerous virtual clinical trials, clinical indication match for patient population, and to forecast optimal drug treatments for a given trial end point. Moreover, calibrated with patient-specific parameters, Optimata's technology can tailor improved treatments of various monotherapies and combination therapies of targeted and chemotherapeutic drugs.
About Optimata Ltd.
Optimata Ltd. is an interdisciplinary science-based company developing computerized tools - Virtual Patient engines - for navigating drug development towards better drugs, faster. Applying bio-mathematics to develop a predictive bio-simulation software toolkit, this technology provides a comprehensive drug development solution, from the pre-clinical phase through treatment personalization.