Israeli firm Teva has entered into a $21m agreement with the UK Government’s National Health Service National Institute for Health Research (NIHR) Office for Clinical Research Infrastructure (NOCRI) for a new clinical drug development initiative and dementia research.
Under the deal, Teva will invest around $20m in clinical development in the UK and an additional $1m will be funded to carry out basic research into dementia.
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The two-part collaboration follows the creation of an important new research infrastructure model by the UK’s National Health Service (NHS).
The deal allows Teva to benefit from the NIHR’s new translational research infrastructure, their ability to set-up and deliver studies, as well as provide access to well-characterised cohorts of patients from within the NHS.
Teva president of Global R&D and chief scientific officer Michael Hayden said was looking forward to collaborating with NIHR on both clinical development and early dementia research.
"It will be a catalyst for innovation to take place within a healthcare system that is admired the world over," Hayden said.
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By GlobalDataBy recognising the need to constantly innovate and improve, NOCRI has created a new model that streamlines the approach to undertaking clinical development in the UK.
The new model provides a single point of entry into the UK healthcare system, reducing the complexities and inefficiencies of dealing with many and varied stakeholders within the combined medical and academic network on an individual and centre by centre basis.
Under the agreement, NOCRI will also facilitate Teva’s access to the NIHR Biomedical Research Centres and Units in Dementia and Translational Research Partnership in dementia and Teva will retain the right to negotiate licenses to these targets.
UK Prime Minister David Cameron said: "This is an excellent area for Britain and Israel to collaborate on."
According to the company, the global cost of managing dementia currently exceeds $604bn per annum.
The number of people living with dementia is set to treble, to 115 million, in less than 40 years, according to the World Health Organization (WHO).
Image: Teva Pharmaceutical president and CEO Erez Vigodman, UK Prime Minister David Cameron and Israel Prime Minister Binyamin Netanyahu. Photo: courtesy of Sivan Farag.
