The deal aims at the development of a joint project, based on new findings by professor Aaron Ciechanover, Dr Gila Maor and professor Ofer Binah, that can potentially lead to the development of new anti-cancer drugs.
So far, the pre-clinical research was funded by Dr Alfred Mann.
Sun Pharma Business Development senior vice-president Kirti Ganorkar said: "This collaboration is part of the various initiatives that Sun Pharma is taking to enhance its specialty pipeline.
"Mutually beneficial partnerships with independent research institutes, especially world renowned institutes, such as the Technion, is our preferred route to bring to the market, innovative products for unmet medical needs."