Teva launches “Rise” open-innovation platform

Teva Pharmaceutical Industries Ltd. has unveiled its new initiative named Rise, an open-innovation platform designed to partner with startups and technology firms to tackle pressing challenges in drug development, manufacturing, supply-chain and digital health.

The company says Rise will focus on areas such as using artificial intelligence to model clinical-trial outcomes, replacing animal models with human-derived platforms, and developing smart devices to monitor patients on long-acting injectable therapies. Teva plans to invest tens of millions of dollars into global collaborations with innovative firms through Rise.

The platform marks a strategic push by Teva to embrace digital transformation and strengthen its innovation pipeline at a time when the pharma industry is rapidly evolving. By leveraging external partnerships, Teva aims to accelerate time-to-market, enhance patient care and establish a competitive edge in the evolving biopharma landscape.