Ignyta acquires four programs from Teva
JERUSALEM & SAN DIEGO—Ignyta Inc. has acquired worldwide rights and assets relating to four targeted oncology development programs from Teva Pharmaceutical Industries Ltd. in exchange for 1.5 million shares (6 percent) of Ignyta’s common stock. Ignyta and Teva have also entered into stock purchase agreements, and selected additional healthcare investors, by which Teva will purchase an additional 1.5 million shares of Ignyta common stock at $10 per share in a registered direct offering and the other investors will purchase 2.7 million shares at $10 per share. The development programs include CEP-32496, a small-molecule inhibitor of BRAF, EGFR and RET; CEP-40783, a pseudo- irreversible inhibitor of AXL and cMET; CEP-40125, a nanoformulation of a modified bendamustine with potential activity in solid tumors; and TEV-44229, a potent, selective inhibitor of the atypical kinase PKCiota. Ignyta has also assumed Teva’s ongoing obligations under certain contracts relating to these programs.