Catalyst Biosciences And Wyeth Pharmaceuticals Sign Two Agreements For Novel Biotherapeutic Platform Of Engineered Proteases
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- Published on Tuesday, 09 January 2007 02:00
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SOUTH SAN FRANSICO, CA, USA | Jan 07, 2007 | Catalyst Biosciences, Inc., today announced that it has signed two research collaboration and license agreements with Wyeth Pharmaceuticals, a division of Wyeth (NYSE:WYE), having potential total payments of up to $100 million, exclusive of potential royalty payments. The agreements support discovery research and preclinical development using Catalyst’s novel Alterase™ therapeutics platform (engineered human proteases) directed at two targets, one each in metabolic disease and oncology. Wyeth will be responsible for the clinical development, manufacturing, and marketing of products developed as a result of these collaborations.
“We are very pleased to be working with Wyeth, one of the largest biopharmaceutical companies in the world, to develop Alterase-based therapeutics. These collaborations will allow us to apply our technology and benefit from Wyeth’s significant drug development capabilities,” said Nassim Usman, Ph.D., Chief Executive Officer of Catalyst Biosciences. “These agreements also demonstrate the continuing high level of interest in novel biotherapeutics by the pharmaceutical industry. We believe that our proprietary Alterase technology will play a central role in the discovery of novel protein-based therapeutics to treat a range of significant diseases.”
The collaboration agreements include upfront license payments, milestone payments, R&D funding and royalties on product sales. Catalyst completed a $30 million Series B financing in February 2006 and has raised approximately $40 million to date to advance its therapeutic programs.
About Catalyst Biosciences:
Catalyst Biosciences is developing the next generation of biopharmaceuticals by harnessing the catalytic power of engineered proteases to attack a variety of protein targets associated with causing disease. Catalyst’s discovery platform rapidly creates and optimizes tailor-made protease drug candidates, called Alterase therapeutics, that are applicable across a broad spectrum of diseases. Initially, Catalyst is focusing its product development efforts on Alterase drug candidates that prevent inflammation associated with acute cardiovascular disorders and one other undisclosed disease target. The company expects to leverage its expertise in protease design to address additional classes of disease targets in the future. Catalyst is backed by leading venture firms including Burrill & Company, HealthCare Ventures, Morgenthaler Ventures, Novartis Venture Fund, RCT Ventures and Sofinnova Ventures.
SOURCE: Catalyst Biosciences, Inc