Teva Pharmaceutical Industries Ltd. and Blackstone Life Sciences announced a $400 million non‑dilutive financing agreement that will fund the continued clinical development of duvakitug, a human monoclonal antibody that targets the TL1A pathway in ulcerative colitis and Crohn’s disease. The funding will be disbursed over four years and will give Blackstone eligibility for regulatory and commercial milestones as well as worldwide royalties on duvakitug sales, aligning the investment with the drug’s commercial success.
Duvakitug is currently in Phase 3 trials and is being co‑developed and co‑commercialized by Teva and Sanofi, a partnership that was announced in 2023. The Phase 2b data showed durable efficacy for nearly one year in patients with ulcerative colitis or Crohn’s disease, providing a strong rationale for the Phase 3 program and for Blackstone’s investment. The deal is a key component of Teva’s “Pivot to Growth” strategy, which focuses on capital‑efficient partnerships to accelerate pipeline advancement while preserving financial flexibility.
Evan Lippman, Executive Vice President of Business Development at Teva, said, “Today’s announcement highlights how we are turning strategy into action under Pivot to Growth. By pursuing disciplined, capital‑efficient partnerships, we are accelerating pipeline advancement while maintaining financial strength. This is the model we will continue using to build a more innovative, resilient, and growth‑oriented Teva.”
Houman Ashrafian, Executive Vice President and Head of Research and Development at Sanofi, added, “These results reinforce duvakitug’s potential as a leading TL1A therapy and an important advancement in inflammatory bowel disease treatment with durable efficacy maintained for nearly one year in patients living with ulcerative colitis or Crohn’s disease. With phase 3 studies underway, we’re committed to advancing duvakitug for patients who need new options, and it remains a key opportunity in our pipeline.”
The investment underscores the growing interest in TL1A inhibitors as a promising therapeutic class for inflammatory bowel disease, with competitors such as Merck and Roche also advancing similar candidates. By securing this non‑dilutive capital, Teva can focus resources on clinical development and regulatory strategy, positioning duvakitug to capture a significant share of the IBD market as the program progresses toward approval.
The $400 million commitment reflects Blackstone Life Sciences’ focus on late‑stage development and market‑uncorrelated returns through milestones and royalties, reinforcing confidence in duvakitug’s commercial potential. The partnership also signals Teva’s continued shift toward a growth‑oriented model that leverages external capital to accelerate innovation without diluting equity.
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