The company was founded in 1992 as a business unit within IMI, the corporate R&D center of Israel Chemicals (ICL). The unit was tasked with peptide process development and peptide R&D targeting the pharmaceutical industry. Following several years of successful projects as a CMO, the business unit was spun-out of ICL and Novetide was incorporated as a separate business entity.
In 2000, following several years of successful projects as a CMO, the company entered into a strategic partnership with Teva Pharmaceuticals which acquired 50% of Novetide.
Novetide's R&D facility is still located within the ICL complex in Haifa where Novetide has access to a world class R&D infrastructure and cutting edge organic chemistry R&D research, support and equipment.
Novetide works closely with TAPI, Teva's API division, which provides global marketing, sales, logistics and regulatory support. TAPI, the leading global supplier of active pharmaceutical ingredients (APIs) TAPI has over $747 million in annual sales and more than 75 years of experience.
Following is a timeline of key events in Novetide's history: