Teva Paying $400 Million for CoGenesys

Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) has agreed to acquire CoGenesys Inc., a Rockville, Md.-based developer of peptide- and protein-based medicines. The deal is valued at $400 million in cash, and is expected to close by the end of Q2. CoGenesys raised a $55 million Series A round in June 2006 from New Enterprise Associates, OrbiMed Advisors, Red Abbey Venture Partners and former parent company Human Genome Sciences Inc.



Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) today announced that it has entered into a definitive agreement to acquire CoGenesys, Inc., a privately-held biopharmaceutical company with a broad based biotechnology platform and focused on the development of peptide- and protein-based medicines across broad therapeutic categories. CoGenesys was established in 2005 as a division within Human Genome Sciences Inc. (HGSI) to focus on early drug development and was spun off as an independent company in June 2006.

In its recently completed strategic review, Teva identified biopharmaceuticals