Teva Acquires Labrys Biologics For Positioning In Pain Market
By Cyndi Root
Teva Pharmaceutical Industries announced in a press release that it has acquired Labrys Biologics, positioning itself more firmly in the pain market.Prior to the acquisition, Labrys owned an anti-CGRP monoclonal antibody (LBR-101), a novel migraine prophylaxis treatment, which Teva says has sales potential of $2-3 billion. The acquisition broadens Teva’s product line-up and works towards fulfilling Teva’s stated mission of becoming a global leader in the pain market by 2020. Teva currently has a diverse group of approved treatments and investigational drugs for pain, migraine, and cancer.
Michael Hayden, Teva’s President of Global R&D and CSO, said, “CGRP is a well-validated target in migraine, and Labrys has progressed the development of LBR-101 with scientific rigor and excellence.” Steven P. James, Labrys’ President and Chief Executive Officer, said, “Teva is the ideal company to continue Labrys’ efforts to rapidly advance the LBR-101 program and bring a much needed product to market.”
Labrys Acquisition
Under the terms of the agreement, Teva acquires Labrys for an upfront cash payment of $200 million due at closing, which is subject to antitrust clearance. Upon achievement of milestones, Teva is to pay up to $625 million. The acquisition complements another recent Teva move when it acquired NuPathe and its Zecuity migraine treatment. With the two agents, Teva is positioned to treat or prevent both chronic and acute migraine. With its latest drug acquisitions, Teva intends to build on the success of its opioid medications with abuse-deterrent properties.
LBR-101
LBR-101 was discovered by Rinat Neuroscience, bought by Pfizer in 2006, and sold to Labrys in 2012. Labrys’ LBR-101 is a fully humanized monoclonal antibody that binds to calcitonin gene-related peptide (CGRP). The agent has a long half-life and favorable pharmacokinetic profile for the prevention of chronic and episodic migraine. Administration is convenient and the agent shows good tolerability in both intravenous and subcutaneous administrations. With its long half-life, once a month doses are realistic. Most side effects are mild and transient. LBR-101 (formerly RN-307) is in Phase IIb clinical trials. Results from Phase I trials were published in Cephalalgia, the official journal of the International Headache Society in December 2013.