SEATTLE, June 19 /PRNewswire-FirstCall/ -- Trubion Pharmaceuticals Inc.
(Nasdaq: TRBN) today announced that Wyeth Pharmaceuticals, a division of Wyeth
(NYSE: WYE), has exercised its option under the terms of its collaboration
agreement with Trubion to extend the research period for an additional
one-year period through Dec. 22, 2009. Under the terms of the research period
extension, Wyeth's obligations to Trubion include collaboration research
funding commitments of approximately $3.2 million in exchange for committed
research services through Dec. 22, 2009.
'We are pleased that Wyeth has extended the research period of our
collaboration,' said Peter Thompson, M.D., FACP, president, CEO and chairman
of Trubion. 'Wyeth's ongoing commitment to the collaboration underscores the
potential of our technology, and we look forward to continuing our efforts
with Wyeth as we pursue the development of additional first-in-class and
best-in-class compounds.'
In December 2005, Trubion entered into a collaboration agreement with
Wyeth for the development and worldwide commercialization of TRU-015 and other
CD20-directed therapeutics. The agreement also includes the development and
worldwide commercialization of certain other product candidates directed to a
small number of targets other than CD20 that have been established pursuant to
the agreement. Unless earlier terminated, the agreement will remain in effect
on a product-by-product basis and on a country-by-country basis until the
later of the date that any such product shall no longer be covered by a valid
claim of a U.S. or foreign patent or application and, generally, 10 years
after the first commercial sale of any product licensed under the agreement.
Wyeth may terminate the agreement without cause at any time upon 90 days'
prior written notice.
Trubion retains the right to develop and commercialize, on its own or with
others, product candidates directed to all targets not included within the
agreement, including CD37.
About Trubion
Trubion is a biopharmaceutical company that is creating a pipeline of
novel protein therapeutic product candidates to treat autoimmune and
inflammatory diseases and cancer. The company's mission is to develop a
variety of first-in-class and best-in-class product candidates, customized for
optimal safety, efficacy, and convenience that it believes may offer improved
patient experiences. Trubion's current product candidates are novel
single-chain protein, or SMIP(TM), therapeutics, and are designed using its
custom drug assembly technology.
