Issue Date: February 12, 2007
Wyeth Scores Hat Trick In Biotech
Wyeth Pharmaceuticals has entered three collaborations with biotechnology companies. In one, Wyeth is collaborating with the Belgian firm Elbion on drugs for schizophrenia and other neurological disorders. The agreement includes up-front and milestone payments and research funding of up to a total of $110 million; Wyeth will also pay Elbion royalties on sales of products developed under the pact. In another venture, Wyeth will work with Nautilus Biotech, based in Paris, to develop recombinant Factor IX proteins for hemophilia B treatment. Also in the hemophilia field, Wyeth has entered a collaboration with San Diego-based MediVas, which will use its polymer-based drug delivery system to improve delivery methods for recombinant hemophilia products.
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