Israels Teva, Technion to develop anti-cancer, he

liver411

Tuesday March 19, 8:34 am Eastern Time

Israel's Teva, Technion to develop anti-cancer, hepatitis drugs



TEL AVIV, March 19 (Reuters) - Israel's Technion Insitute of Technology said on Tuesday it had signed a cooperation agreement with Teva Pharmaceutical Industries (NasdaqNM:TEVA - news) to develop drugs against various cancers and diseases.



The development of the drugs will be based on innovative technology that recruits the body's own immune system cells and activates them to work against cancer cells, the Technion said in a statement.



The initial phase of the cooperation will last two years with a ``strong commitment'' from Teva to take it to clinical trials if successful, Professor Yoram Reiter, head of the research team at the biology faculty, told Reuters.



``We are working on leukaemia and cancers of the breast, ovary and colon,'' Reiter said.



"Because we are working on a technology platform, it could be used to treat other diseases as well. These include AIDS, hepatitis B and C, but these studies have not yet started,'' Reiter added.



Teva declined to comment on the financial details of the agreement.