MedinCell applauds Teva and Royalty Pharma collaboration to further accelerate olanzapine LAI program

November 13, 2023

MedinCell’s partner Teva to receive R&D funding from Royalty Pharma of up to $125 million to further accelerate the development of olanzapine LAI, a long-acting subcutaneous injectable olanzapine for schizophrenia using MedinCell’s technology.

Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry. Its current portfolio includes royalties on over 35 products, many of which are blockbusters, and it has 12 development-stage product candidates.

mdc-TJK is a once-monthly subcutaneous long-acting injection of the atypical antipsychotic olanzapine that is currently in clinical Phase 3 for the treatment of schizophrenia. It has the potential to be the first long-acting olanzapine with a favorable safety profile.

Data of the Phase 3 trial are now expected in the second half of 2024 (moved forward from 2025), as recently announced by Teva (Q3 2023 earnings call, November 8, 2023)

Following UZEDY™(risperidone), approved by the FDA for the treatment of schizophrenia in adults in April 2023, mdc-TJK is the second product developed by Teva to utilize MedinCell’s proprietary long-acting injectable technology (licensed to Teva under the name SteadyTeq™).

Teva remains fully responsible to lead the development and commercialization of olanzapine LAI globally.

MedinCell may receive up to $117 million in development and commercial milestones over the coming years for mdc-TJK, and is eligible for royalties on all net sales. The funding agreement between Teva and Royalty Pharma does not affect future revenues to which MedinCell may be entitled.

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