Teva Pharmaceuticals To Invest $6 Million In CureTech with an Option for Further Investment of $23 Million to Conclude Development of a Revolutionary Cancer Drug

May 22, 2006, Yavne, Israel. CureTech, an Israeli biotechnology company specializing in development of innovative drugs for the treatment and control of cancer has concluded a deal in which Teva Pharmaceuticals would invest an initial $6 million in CureTech.

According to the agreement, Teva has received an option to invest additional $23 million under certain milestones and increase its stake in the company. The funds raised would be directed towards the development of CureTech’s flagship product, CT-011 antibody.

"Teva’s investment in CureTech is a significant vote of confidence in the potential of our products. We believe that the collaboration with Teva would contribute greatly to the development and growth of CureTech" said Ruben Krupik, Chairman of CureTech.

"The unique agreement structure allows CureTech to focus on promoting its products and bringing them to market, and, at the same time, maximize shareholders’ value” added Dr. Michael Schickler, CEO of CureTech,

About CureTech

CureTech is a privately held biotechnology company operating out of Israel and focuses on the research, development and commercialization of novel, broad-spectrum, immune modulating products for the treatment and control of cancer. CureTech products offer an alternative approach to current biological cancer treatment by directly affecting specific functions of the immune system thus providing the safety inherent to antibody-based therapy and the ability to target a wide spectrum of malignancies. CureTech’s lead drug, CT-011, a humanized monoclonal antibody directed against PD-1, a B7 family-associated protein, has completed Phase I clinical testing.