Teva, Optimata to 'rescue' failed cancer drugs

Israel's Optimata and Teva Pharmaceutical Industries have teamed up to develop cancer drugs. The two say they will "efficiently rescue" failed advanced stage clinical trials. Teva will purchase the rights to drug candidates that other companies have shelved, Reuters reports, which the two will then co-develop using Optimata's bio-simulation technology. For its part, Optimata will receive an upfront payment, milestone payments and royalties, though further financial details were not disclosed. Teva has also agreed to make an undisclosed equity investment in Optimata.

"Having Teva Pharmaceutical Industries as a partner is clearly a transforming event in the history of our company," Dr. Pini Orbach, COO of Optimata, said in a statement. "With this new collaboration we continue to fulfill Optimata's goal of accelerating the oncology drug development process."

The Virtual Patient toolkit is a predictive software that, among other things, allows developers to conduct trials, track dosing and timing and monitor the interaction of drugs in patients, enabling drugmakers to create an optimal dosing schedule, as well as drug and safety profiles.

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