$100 million Israeli biotech deal for Melbourne
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12 February 2008
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Melbourne-based biotechnology company Antisense has signed a major deal with Israeli pharmaceutical giant Teva Pharmaceutical Industries to partner the company's multiple sclerosis drug through to market.
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Antisense chief executive Mark Diamond said the deal was an exciting one for the company, with the potential to return up to $100 million in royalty revenue.
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Diamond said Antisense had been talking to the Israeli company for some time, after Teva first approached the small Melbourne-based biotech around 18 months ago. The licensing deal means Antisense can focus on its other early stage compounds, all currently in pre-clinical stages.
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