Wyeth Pharmaceuticals Acquires Haptogen to Boost Biotechnology Drug Discovery
News Oct 05, 2007
Wyeth Pharmaceuticals has announced the signing of a definitive agreement under which it has acquired Haptogen Ltd., a Scottish company based in Aberdeen that is focused on the discovery of biopharmaceutical therapies. This acquisition significantly increases Wyeth's already robust biotechnology drug discovery capabilities.
"Haptogen brings to Wyeth a suite of next-generation biotechnology discovery technologies that complement Wyeth's ongoing biotherapeutic discovery efforts," says Frank Walsh, Ph.D., Executive Vice President of Discovery, Wyeth Research. "In addition to the exciting technology and first- rate research team that we are bringing into our organization, we consider the opportunity to conduct biopharmaceutical drug discovery in Scotland particularly important because of the rich pool of scientific and technological talent."
Haptogen has developed a number of technologies that allow for the discovery and optimization of protein therapeutics with significantly improved profiles over the current generation of protein therapies. Such benefits include the potential for convenient routes of administration as well as cell and organ penetration, opening the opportunity to address diseases that are not treatable with the first generation of protein therapeutics.
Through the acquisition, Haptogen becomes part of Wyeth Discovery Research. In addition to Haptogen, Wyeth has a significant ongoing research relationship in the field of translational medicine through the Translational Medicine Research Collaboration. This partnership, which was launched in 2006, includes Wyeth as well as the Universities of Aberdeen, Edinburgh, Dundee and Glasgow, regional National Health Service boards and Scottish Enterprise.
"Since Haptogen started its discussions with Wyeth, we have been impressed by the quality and commitment of the people we have met," says Jim Reid, Founder and Chief Executive Officer of Haptogen Ltd. "We believe that combining Haptogen's technology platforms with Wyeth's existing discovery and development capabilities creates the greatest opportunity for realizing the potential to bring new treatments to patients."