ProNeuron Biotechnologies filed on Wednesday for a motion annulling its license agreement with Teva Pharmaceuticals due to "breach of license agreement for the development and commercialization of a molecule for neurodegenerative diseases."
According to the statement of claim filed to the Tel Aviv District Court Teva is in violation of the agreement to develop a drug based on molecules derived from glatiramer acetate for the treatment of neurodegenerative diseases."
According to the license issued in 2005 Teva agreed to start testing the safety and efficiency of the molecule for human use by October 2006. The clinical tryouts were meant to prepare the drug for commercial release.
According to ProNeuron Teva "knowingly executed a clinical trial that does not keep in line with accepted scientific standards or Teva's previous commitment.
"The results of the pre-clinical trials indicate unequivocally that the clinical trials being conducted by Teva are destined to fail and my even put the lives of patients participating in the study at risk… Due to Teva's demonstration of ignoring those irrefutable findings there is no escaping the conclusion that Teva'sdecisions are motivated by considerations that have nothing to do with developing a drug for patients with neurodegenerative diseases.
Teva said in response: "We have yet to receive the statement of claim, when it is received we will study it and respond in court."