ROCKVILLE, MD–Israel’s Teva Pharmaceutical Industries is buying Rockville, Md-based CoGenesys for $400 million in cash.

Founded in 2005 as a Human Genome Sciences division, CoGenesys became an independent company in 2006.

The company has a broad based biotechnology platform and focused on the development of peptide- and protein-based medicines across broad therapeutic categories.

Teva’s existing biotechnology infrastructure includes product development and manufacturing in several countries. The Company also markets a portfolio of biopharmaceutical drugs outside the United States.

Based on over 15 years of peptide- and protein-based drug development research, CoGenesys brings to Teva advanced technological platforms (including Albumin Fusion, a novel approach to long acting biopharmaceuticals).

The CoGenesys team includes some 70 professionals, many of them Ph.D.-level scientists working in a 48,000 square foot state-of-the-art facility, located in Rockville, Maryland.

On the Web: www.cogenesys.com

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