Clal Biotechnology Industries And Teva Pharmaceuticals Solidify Their Collaboration For Final Stage Development Of Type 1 Diabetes Drug

Clal Biotechnology Industries Ltd., (TASE: CBI), an investment group in the field of life sciences, announced recently that Andromeda Biotech Ltd., a wholly owned subsidiary of CBI, signed a Term Sheet with Teva to develop and commercialize DiaPep277, an innovative and advanced drug for the treatment of type 1 diabetes. According to the Term Sheet, Teva and other investors will invest in Andromeda and will finance the development cost. [click link for full article]

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Filed under: Diabetes on December 6th, 2007