Teva, OncoGenex End Collaboration on Cancer Drug

Israeli drugmaker Teva has ended its collaboration with U.S. drug company OncoGenex Pharmaceuticals on late-stage oncology candidate custirsen.

Under the termination agreement, expected to be signed later in January, Teva will return its full rights to the drug and pay OncoGenex $27 million in compensation, subject to “certain adjustments,” Teva Vice President Denise Bradley told Bloomberg BNA Jan. 5. Washington and OncoGenex then will take over responsibility for “all custirsen-related activities and expenses,” she said. OncoGenex is based in Bothell, Wash., with Canadian offices in Vancouver.

Custirsen is an experimental drug designed to block the production of the protein clusterin, ...