January 11, 2007
Wyeth enters three new R&D deals
Wyeth has inked three new collaboration agreements with separate biotech firms since the start of the new year, TheStreet.com reported. On Jan. 4 Wyeth signed an agreement with Pharmacopeia to develop products based on the Princeton, NJ’s research into the body’s immune system. Pharmacopeia said it hopes its research leads to treatments for rheumatoid arthritis and psoriasis. The deal could provide Pharmacopeia with up to $175 million in milestone payments, as well as sales-based royalties. Pharmacopeia, which has no commercial products, has also signed deals with Bristol-Myers Squibb and Schering Plough. Wyeth also agreed to join forces with Raven Biotechnologies of South San Francisco, CA. The company specializes in developing monoclonal antibodies. On Jan. 8, Wyeth reached an agreement with Catalyst Biosciences, also of South San Francisco, CA, to develop treatments for cancer and metabolic diseases. Catalyst could receive as much as $100 million, excluding royalties based on product sales resulting from the deal.