Wyeth acquires tiny biotech Thiakis in $150M deal

Wyeth announced today that its subsidiary, Wyeth Pharmaceuticals, has acquired the U.K.-based biotech company Thiakis Limited for an upfront payment of $30 million. An additional $120 is on the table for future development milestones. Thiakis was founded in 2004. Its portflio includes an early clinical candidate, TKS1225, which is being developed for the treatment of severe obesity and comorbidities, including diabetes and heart disease. Thiakis commenced an early-stage study in people earlier this year after animal testing showed that TKS1225 is long-acting and caused significant weight loss, according to the Associated Press.

"This acquisition is evidence of our commitment to develop and bring to market innovative, high-value medicines that have the potential to address significant unmet needs in critical therapeutic areas such as metabolic disorders," says Mikael Dolsten, M.D., Ph.D., President, Wyeth Research. "Thiakis' research and development program fits well with our goal of addressing the medical burden of obesity in a targeted manner using biologic-based therapies." Wyeth has significant ongoing research in metabolic diseases and is a leader in the development and commercialization of biotechnology-based drugs.

- check out Wyeth's release
- read the AP report

Related Articles:
Wyeth - Biotech Market Share Report
Wyeth restructures R&D, narrows focus
Wyeth - Top 5 layoffs of 2008
New concerns on Wyeth hormones
Broader implications of Wyeth v. Levine rulings