04:48 AM EST, 01/12/2026 (MT Newswires) -- Teva Pharmaceutical Industries' ( TEVA ) Teva Pharmaceuticals US affiliate and Royalty Pharma ( RPRX ) said late Sunday they signed a financing deal, under which the latter will provide up to $500 million for the clinical development of TEV-'408 anti-IL-15 antibody in vitiligo.

Under the terms, the amount comprises $75 million in R&D co-funding to carry out a phase 2b trial this year, while Royalty Pharma ( RPRX ) will have an option to offer an additional $425 million to co-finance the phase 3 development program based on the results from phase 2b in vitiligo, the companies said.

Teva will pay out a milestone payment to Royalty Pharma ( RPRX ) and a royalty on global net sales of TEV-'408 if approved and rolled out while Teva expects to report results from TEV-'408 studies during 2026, according to the parties.

Teva shares were up over 9% in recent Monday premarket activity.

Price: 34.95, Change: +2.94, Percent Change: +9.18