Wyeth Pharmaceuticals and Nautilus Biotech Announce Collaborationto Develop Hemophilia TherapiesWyeth - World's Fourth Largest Biopharmaceutical Company - Builds on Commitment to Innovation in Hemophilia
MADISON, N.J., February 05, 2007 /PRNewswire-FirstCall/ -- Wyeth Pharmaceuticals, a division of Wyeth , and Nautilus Biotech in Evry, France, today announced the signing of a research collaboration and license agreement to discover and develop novel recombinant Factor IX proteins for the treatment of hemophilia B. These extended half-life proteins will be designed to enhance patient convenience as they will reduce the number and frequency of treatments needed.
As part of the agreement, Nautilus Biotech will apply its proprietary technology to improve the duration of action of recombinant hemophilia B therapy. The Nautilus Biotech technology makes minimal and specific changes to amino acids sequences in order to slow the breakdown of the protein in the body.
"Wyeth is continually evaluating technologies for next-generation hemophilia products that provide unique and improved features for patients. This research partnership enhances Wyeth's presence in biopharmaceuticals and builds upon our history of innovation in hemophilia research," says Cavan Redmond, Executive Vice President and General Manager, BioPharma Business Unit at Wyeth Pharmaceuticals.
Under the terms of this agreement, Wyeth will develop, manufacture and market products derived from the collaborative research. Nautilus Biotech will receive an upfront payment, research and development fees, milestone payments from Wyeth associated with development, regulatory filings and approvals, and royalty payments based on net sales of products.
"Wyeth has an impressive track record as a pioneer in developing state-of- the-art hemophilia therapies and Nautilus Biotech has a unique technology for improving protein medicines. We believe that the collaboration between Wyeth and Nautilus will offer exciting new therapeutic approaches for hemophilia," says Manuel Vega, Chief Executive Officer of Nautilus Biotech.
Hemophilia is a rare, inherited blood-clotting disorder that affects approximately 130,000 people worldwide. People with hemophilia are deficient in one of the key proteins -- either Factor VIII (hemophilia A) or Factor IX (hemophilia B) -- that are vital in the clotting cascade to prevent bleeding. Both forms of hemophilia are characterized by spontaneous hemorrhages or prolonged bleeding, typically into joints and soft tissue. Patients with hemophilia A or hemophilia B are dependent on protein replacement therapy with Factor VIII or Factor IX, respectively, for life.
Wyeth Pharmaceuticals, a division of Wyeth, has leading products in the areas of women's health care, cardiovascular disease, central nervous system, inflammation, transplantation, hemophilia, oncology, vaccines and nutritional products. 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 non-prescription 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.
The statements in this press release that are not historical facts are forward-looking statements based on current expectations of future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include risks associated with the inherent uncertainty of the timing and success of product research, development and commercialization (including with respect to our pipeline products), drug pricing and payment for our products by government and third-party payors, manufacturing, data generated on the safety and efficacy of our products, economic conditions including interest and currency exchange rate fluctuations, changes in generally accepted accounting principles, the impact of competitive or generic products, trade buying patterns, global business operations, product liability and other types of litigation, the impact of legislation and regulatory compliance, intellectual property rights, strategic relationships with third parties, environmental liabilities, and other risks and uncertainties, including those detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, including our current reports on Form 8-K, quarterly reports on Form 10-Q and annual report on Form 10-K, particularly the discussion under the caption "ITEM 1A, RISK FACTORS." We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
Posted: February 2007