Wyeth signs agreements with Catalyst Biosciences

Wyeth Pharmaceuticals has signed two research and licensing agreements with Catalyst Biosciences. These agreements may generate a total sum of up to $100 million (51.5 million pounds), in addition to royalty payments dependent on sales.

The agreements involve Catalyst Bioscience’s proprietary Alterase therapeutics platform using engineered human proteases that are directed at two targets. One target relates to metabolic disease and one to oncology.

Under the terms of the agreement, Wyeth is responsible for the development, manufacture and commercialisation of the products arising as a result of these agreements.

Nasim Usman, chief executive officer of Catalyst Biosciences, said: “These collaborations will allow us to apply our technology and benefit from Wyeth’s significant drug development capabilities.”

He added that the agreements underlined the level of attention paid to innovative biotherapeutics in the industry, with the company holding that its own Alterase technology have a vital position in the development of protein-based therapeutics.

Today, Joseph S Camardo, senior vice president of global medical affairs and North American medical director of the Wyeth will be presenting for the company at the JP Morgan Healthcare Conference.

Last week, Robert Essner, chairman and chief executive officer of the company presented at the Morgan Stanley Pharmaceutical Chief Executive Officers Unplugged Conference.