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Teva to finance yeast-based drug discovery start-up Jexys
January 2009
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JERUSALEM—Teva Pharmaceutical Industries Ltd. announced in December it will finance the R&D program of Jexys Pharmaceuticals Ltd., an Israeli biopharmaceutical start-up. Under the agreement, which extends an earlier agreement from late 2006, Teva will invest an undisclosed amount in Jexys' R&D program until it can commercialize its drug discovery platform in exchange for a minority stake in the company and the right to choose five drug candidates discovered by Jexys for licensing. Teva will also pay Jexys royalties on any future sales of products based on the company's proprietary technology, which uses active mitogen activated protein kinase (MAPK) enzymes to develop high-throughput screening systems in yeast. Jexys is a subsidiary of Yissum, the technology transfer company of the Hebrew University of Jerusalem, and was founded by David Engleberg, a professor of biological chemistry at the Hebrew University. DDN

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