Wyeth Announces Strategic Collaboration with Trubion Pharmaceuticals
Development & Commercialization of Innovative
SMIP Biopharmaceuticals
Wyeth Pharmaceuticals, a division of Wyeth (NYSE: WYE), and Trubion
Pharmaceuticals, Inc. announced today that they have formed a
strategic alliance for the discovery, development and
commercialization of novel biopharmaceutical
products to treat inflammatory disease and cancer. The alliance
will utilize Trubion's proprietary Small Modular
Immunopharmaceutical (SMIP(TM)) technology.
SMIPs represent a novel class of immunotherapeutics with
enhanced drug properties over monoclonal and recombinant
antibodies. SMIPs are smaller than
antibodies and can reach sites unavailable to larger molecules while
exhibiting selective binding and long in vivo half-lives, which
means the
medicine is metabolized more slowly by the body suggesting less
frequent
dosing will be needed. These novel compounds can be expressed in
mammalian
cells and customized for many disease targets.
As part of the alliance, Wyeth and Trubion will collaborate on
the
development and commercialization of CD20-targeted therapies
including
TRU-015, a novel SMIP compound currently in phase 2 clinical
development for
the treatment of rheumatoid arthritis (RA). TRU-015 is designed to
deplete B
cells -- a new therapeutic strategy for B cell mediated autoimmune
and
inflammatory disorders such as RA and also a promising strategy for
certain
cancers with malignant B cells.
Trubion and Wyeth also will collaborate on a multi-target
discovery
program focused on the development of certain other
biopharmaceutical products
for major indications with unmet medical needs. Wyeth will receive
worldwide
rights to CD20-targeted SMIPs as will as SMIP product candidates
from the
discovery program.
As part of the transaction, Trubion received an initial $40
million
payment. Trubion will retain an option to co-promote CD20-targeted
therapies
in the United States for certain indications. Wyeth will be
responsible for
future development and commercialization costs for the alliance. The
agreement also provides for additional payments to Trubion upon the
achievement of certain development milestones, royalties on product
sales, and
a stock purchase when Trubion makes a qualified initial public
offering. If
all milestones are achieved the total payments to Trubion could
exceed $800
million, excluding royalties and co-promotion fees.
"Wyeth is excited about the development of TRU-015 for RA as
well as the
potential application of TRU-015 in other chronic inflammatory and B
cell
mediated diseases," says Robert R. Ruffolo, Ph.D., President, Wyeth
Research
and Development and Senior Vice President, Wyeth. "We are proud to
partner
with Trubion because of the high quality of their science in an area
that
matches well with two of Wyeth's key therapeutic areas --
inflammation and
oncology."
"We look forward to working with Wyeth both to maximize the
commercial
potential of TRU-015 and to leverage the productivity of Trubion's
SMIP
technology platform. Trubion chose Wyeth for this collaboration
because of
its leadership in the field of rheumatoid arthritis, bioprocess
development
and its success in the commercialization of biopharmaceuticals,"
says Peter A.
Thompson, MD, FACP, President and Chief Executive Officer, Trubion
Pharmaceuticals. "The strength of Wyeth's science and global
capabilities
makes this collaboration a great fit for Trubion."
Wyeth Pharmaceuticals is the fourth largest fully integrated
biotechnology
pharmaceutical company in the world with capacity to discover,
develop,
manufacture and commercialize biological therapeutics.
About Wyeth
Wyeth is one of the world's largest research-driven
pharmaceutical and
health care products companies. It is a leader in the discovery,
development,
manufacturing and marketing of pharmaceuticals, vaccines,
biotechnology
products and nonprescription medicines that improve the quality of
life for
people worldwide. The Company's major divisions include Wyeth
Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal
Health.
Wyeth Pharmaceuticals has leading products in the areas of
gastroenterology,
women's health care, cardiovascular disease, central nervous system,
inflammation, hemophilia, oncology, and vaccines. For additional
information
visit http://www.wyeth.com.
About Trubion
Trubion Pharmaceuticals is a biopharmaceutical company focused
on the
discovery, development and commercialization of novel medicines to
treat
inflammatory disease and cancer. Trubion was founded in Seattle,
Washington
in 2002 to utilize proprietary technology to develop medicines that
are more
effective and safer than currently available therapies. For
additional
information visit http://www.trubion.com.
The statements in this press release that are not historical
facts are
forward-looking statements based on current expectations of future
events that
involve risks and uncertainties including, without limitation, risks
associated with the inherent uncertainty of pharmaceutical research,
product
development, manufacturing, and commercialization, and economic
conditions,
including interest and current exchange rate fluctuations, the
impact of
competitive or generic products, product liability and other types of
lawsuits, the impact of legislative and regulatory compliance and
obtaining
approvals, and patents, and other risks and uncertainties, including
those
detailed from time to time in Wyeth's periodic reports, including
quarterly
reports on Form 10-Q and the Annual Report on Form 10-K, filed with
the
Securities and Exchange Commission. Actual results may vary
materially from
the forward-looking statements. The Company assumes no obligation
to publicly
update any forward-looking statements, whether as a result of new
information,
future events or otherwise.
SOURCE Wyeth
Web Site: http://www.wyeth.com http://www.trubion.com
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