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Seattle biotech Trubion gets $40 million to start Wyeth collaboration

Trubion Pharmaceuticals, a small Seattle biotech company founded in 2002, has landed a major development agreement with a unit of drug giant Wyeth.

Trubion got a $40 million up-front payment from its new development partner, which is interested in growing its already substantial biotechnology business. Additional milestone payments from Wyeth Pharmaceuticals could be worth more than $800 million if the companies are successful in developing drugs created using Trubion's Small Modular Immunopharmaceutical (SMIP) technology platform.

Foremost among the drug candidates is TRU-015, a treatment for rheumatoid arthritis which entered Phase 2 clinical trials last fall.

The deal, which participants called one of the largest between big pharma and the biotech industry in the last 12 months, brings Trubion closer to its founders' goal of becoming the next big Seattle biotechnology company.

(http://seattletimes.nwsource.com)

 
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