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Home Industry News Wyeth acquires Haptogen

Wyeth acquires Haptogen

8th October 2007

Wyeth Pharmaceuticals has announced the signing of a definitive agreement to acquire Scottish-based biotechnology therapy firm Haptogen in order to enhance its existing drug discovery capacity in this field.

Following its acquisition by Wyeth Pharmaceuticals, Haptogen has become part of the Wyeth Discovery Research business unit.

Haptogen – a firm founded in 2002 as a spin-out from the University of Aberdeen – has developed a range of technologies used in the discovery and optimisation of protein therapeutics with enhanced profiles when compared to existing protein therapies.

These improvements include improved cell and organ penetration, in addition to potentially facilitating more convenient administration.

Frank Walsh, executive vice-president of discovery at Wyeth Research, said: “Haptogen brings to Wyeth a suite of next-generation biotechnology discovery technologies that complement Wyeth’s ongoing biotherapeutic discovery efforts.”

He added that the firm is also anticipating making use of the available scientific and technological expertise available to the firm in Scotland as a result of this acquisition.

Earlier this month, Wyeth announced the election of Bernard Poussot as chief executive officer and president of the firm, with Mr Poussot assuming the position from the start of 2008.

Wyeth noted that current chief executive officer and chairman Robert Essner will retain both roles until the end of 2007 remaining as chairman for a transitory period at the start of next year.

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