Wyeth Pharmaceuticals, and Ambrx have formed a discovery, development, and commercialization alliance covering protein drug candidates for three undisclosed targets in multiple therapeutic areas. Ambrx gains an upfront payment, research funding, milestones and royalties, though the company did not reveal the financial details of the deal.
The alliance will capitalize on Ambrx's recent breakthroughs in applying its protein medicinal chemistry platform to proteins produced in mammalian cells such as antibodies and antibody-toxin conjugates. CEO Steve Kaldor tells Xconomy that Ambrx had talked to five other potential partners before signing the deal with Wyeth. According to the site, the two companies will utilize Ambryx's EuCode platform. EuCode produces "precise, consistent antibody drugs that are attached to little toxins that give them a little extra kick that can be used to do a tough job, like, say, killing cancer cells."
In the press release, President of Wyeth Research Mikael Dolsten said that the deal reinforces Wyeth's commitment to biologics drug discovery through partnerships with biotech innovators. When the Pfizer/Wyeth deal closes, Dolsten will likely be in charge of biotech drugs at Pfizer. Ambrx was a 2005 Fierce 15 company
- take a look at the release from Ambrx
- here's the Xconomy article