Private equity firm Blackstone Life Sciences agreed to provide up to $400 million to support Teva’s development of duvakitug, an anti‑TL1A antibody partnered with Sanofi for inflammatory bowel disease. The financing is structured to be paid over several years tied to development milestones and helps Teva advance phase 3 programs while preserving balance‑sheet flexibility. Teva framed the deal as part of a broader 'Pivot to Growth' strategy to accelerate innovative assets. The financing reflects growing investor appetite to underwrite late‑stage biologic development in exchange for structured returns tied to regulatory and commercial success.