Trubion Pharmaceuticals, a 2006 Fierce 15 biotech, has filed an IPO designed to raise up to $86.25 million. Wyeth, which is co-developing TRU-015, has agreed to buy 20 percent of the new shares at the IPO price. Wyeth was drawn by Trubion's work with small modular immunopharmaceuticals, or SMIPs. If Trubion is right, SMIPs represent a new class of immunotherapeutics with distinct advantages over current therapies. Due to their smaller size, SMIPs have shown an ability to reach areas of the body antibodies can't hit. Researchers have touted their selective binding capacity and stability, which should help a body metabolize the drug and lower dosage requirements. Several of Trubion's top staffers came from Immunex. The Seattle-based biotech says it is planning to hire about 27 new staffers by the end of this year.
- read this Seattle Times report on Trubion