Globenewswire·2026-01-11 22:15Core Insights - Royalty Pharma and Teva Pharmaceuticals have entered into a funding agreement of up to $500 million to support the clinical development of Teva's anti-IL-15 antibody, TEV-'408, aimed at treating vitiligo and other autoimmune conditions [1][3][7] - TEV-'408 is currently in Phase 1b trials for vitiligo and Phase 2a for celiac disease, with preliminary data suggesting its potential as a therapeutic target [1][5][7] Funding Agreement Details - The agreement includes $75 million for R&D co-funding to initiate a Phase 2b study in 2026, with an option for Royalty Pharma to provide an additional $425 million for Phase 3 development based on Phase 2b results [3][7] - If TEV-'408 is approved, Teva will pay a milestone to Royalty Pharma and a royalty on worldwide net sales [3] TEV-'408 Overview - TEV-'408 is a human monoclonal antibody designed to inhibit interleukin-15 (IL-15), which plays a role in immune-mediated pathways [4] - The drug has a high affinity and potency in vitro, with a planned self-administration option for patients [4] Vitiligo Context - Vitiligo is a chronic autoimmune skin disease affecting 0.5% to 2% of the global population, characterized by the loss of pigment-producing cells, leading to significant emotional and psychosocial burdens [6][8] - Current treatment options are limited, with only one approved topical therapy available, highlighting the unmet need for effective systemic treatments [7][8] Company Backgrounds - Royalty Pharma is a leading funder of biopharmaceutical innovation, collaborating with various entities to support late-stage clinical trials and new product launches [9] - Teva Pharmaceutical Industries is transitioning into a leading innovative biopharmaceutical company, focusing on neuroscience, immunology, and complex generics [10]