Wyeth boosts drug discovery with Haptogen buyout

Wyeth has acquired Haptogen, Scotland-based spin-out of the University of Aberdeen that was founded in 2002. Haptogen develops technologies that allow for the discovery and optimization of protein therapeutics with significantly improved profiles over the current generation of protein therapies. Financial terms of the deal were not disclosed.

"Haptogen brings to Wyeth a suite of next-generation biotechnology discovery technologies that complement Wyeth's ongoing biotherapeutic discovery efforts," says Frank Walsh, Ph.D., Executive Vice President of Discovery, Wyeth Research. "...[W]e consider the opportunity to conduct biopharmaceutical drug discovery in Scotland particularly important because of the rich pool of scientific and technological talent." Scotland was featured on our 2007 list of top five regions targeting biotech development.

- read Wyeth's release on the buyout

Related Articles:
Wyeth names Poussot CEO. Report
PwC to pharma: Adapt and invest or die. Report
Wyeth stumbles badly trying to develop new drugs. Report
Wyeth buyout a good deal for Pfizer? Report