Neurosearch to Sell Huntexil Drug to Israel's Teva

Danish biopharma company Neurosearch said on Thursday it had signed a 149 million Danish crowns ($25.7 million) deal with Israel's Teva Pharmaceutical Industries for the sale of its Huntington's drug Huntexil.

Under the deal, Neurosearch could also receive potential milestone payments with a total value of up to 55 million crowns, it said in a statement.

The agreement was conditional on Neurosearch shareholder approval as well as a number of standard conditions, it said.