As part of the agreement, Teva invested in Proteologics and has the option to enter into an agreement to obtain a license, which includes payments for achieving milestones and royalties
Avi Blizovsky
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Proteologix announces today the signing of an agreement with Teva Pharmaceutical Industries Ltd. to test the feasibility of developing new drugs for the treatment of cancer directed against ubiquitin ligases.
In return for payments from the Teva company, Proteologics will conduct research to identify ubiquitin ligases as new targets for cancer treatment and will continue in the early stages of development of drugs that will act on these targets. Teva reserves the option to continue the development of the drugs and their commercialization by signing a license and cooperation agreement with Proteologics, under which Proteologics will be entitled to payments for achieving milestones as well as royalties. As part of the agreement, Teva also invested in Proteologics.
Proteologics focuses on the discovery of ubiquitin ligases as new drug targets and the discovery of drugs that act on them. Prof. Avraham Harshko and Prof. Aharon Chachanover, winners of the Nobel Prize in Chemistry in 2004 for the discovery of the ubiquitin system, head the scientific advisory board of Proteologix. The ubiquitin system is involved in various diseases such as cancer, AIDS, neurodegenerative diseases of the brain and disorders of the immune system.
Avishi Levy, CEO of Proteologics, said: "The collaboration with Teva allows us to expand the company's research and development activities by adding promising projects in the field of cancer research. We are sure that we will be able to profit from Teva's experience in drug development."
About Proetologics
Proatologics was founded in 1999 as a privately owned company. The company's headquarters is in Delaware in the USA and the research and development activities are carried out in its wholly Israeli-owned subsidiary, Proteologics Ltd. To date, the company has raised $27 million from investors, including Concord Venture Capital Fund (Israel), Reslo Life Sciences Ltd. (Israel), Alex Brown - Deutsche Bank (USA), Giza Fund (GE Capital, Israel), and Etgar Fund ( Israel).
Proteologics' internal research programs focus on the field of HIV/AIDS. The company has discovered 3 ubiquitin ligases as new targets for anti-HIV drugs, and is continuing research and development to identify inhibitors for two of these targets. Such inhibitors have the potential to be the first broad-spectrum antiviral drugs, which will be effective against several viral diseases such as AIDS, viral hepatitis, West Nile fever and possibly even influenza.
* The ubiquitin system
The ubiquitin system is involved in an increasing number of diseases in many medical fields. These diseases are mainly related to the activity of ubiquitin ligases, a group of more than a thousand regulatory enzymes with high variability and specificity. Proteologix identifies ubiquitin ligases that are causally related to diseases and conducts research to discover drugs that act on them.
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