The cash is being provided in the form of equity and an access fee as the two companies form a partnership agreement to improve drug delivery systems.
Teva Pharmaceutical Industries has agreed to make a $35m upfront payment to US-based medical device maker Microchips Biotech as part of a strategic partnership agreement.
The $35m will consist of an equity investment and technology access fee. Microchips has developed an implantable drug delivery device that can hold several hundred doses and release them into the patient’s bloodstream at precise moments over the course of months or years.
Teva and Microchips expect the partnership, whch will involve finding ways to…
