Private equity arm Blackstone Life Sciences agreed to provide Teva Pharmaceutical with up to $400 million over four years to support development of duvakitug, an anti‑TL1A antibody co‑developed with Sanofi for inflammatory bowel disease. Teva will make contingent payments and low single‑digit royalties if the drug secures FDA approval and commercializes globally. Duvakitug showed promise in phase 2 trials for ulcerative colitis and Crohn’s disease, hitting clinical remission endpoints; Phase 3 studies are ongoing. Teva framed the transaction as part of a capital‑efficient ‘Pivot to Growth’ strategy to advance late‑stage assets without overleveraging balance sheet liquidity. The financing illustrates growing reliance on private capital models to de‑risk late‑stage clinical programs and signals investor appetite for IBD assets that can compete in a crowded anti‑TL1A field including Merck and Roche programs.