Healthcare Industry News: Biosyn
News Release - October 5, 2006
Biotica Enters into a Research and License Agreement with Wyeth for Novel Rapamycin Analogs
CAMBRIDGE, England, October 5 (HSMN NewsFeed) -- Biotica Technology Ltd. a private UK biotechnology company, today announced the signing of an exclusive research collaboration and license agreement with Wyeth Pharmaceuticals, a division of Wyeth (NYSE:WYE ). This alliance is focused on the discovery, development and commercialization of novel rapamycin analogs that target diseases in multiple therapeutic areas.Biotica has granted Wyeth worldwide rights to its most advanced drug candidates, a portfolio of additional rapamycin analogs, and the technology to discover new compounds. The companies will collaborate on a multi-product discovery program from which compounds will be selected for development and commercialization by Wyeth. Biotica will receive an initial payment, research support and milestone payments. Potential payments to Biotica could total up to $195 million for the successful development and commercialization of multiple products. In addition, Biotica will receive royalties on product sales.
This alliance is based on Biotica's Biosynthetic engineering technology that can be used to create compounds that are not readily accessible through conventional synthetic chemistry. Biotica uses this technology to mine fertile but previously unexplored chemical space around high-value, validated natural products, such as rapamycin.
Wyeth has extensive experience with rapamycin and its analogs both with its currently marketed immunosuppressant, Rapamune® (sirolimus) and with temsirolimus (CCI-779) which is in late-stage clinical development for the treatment of cancer. Through the alliance with Biotica, Wyeth will gain access to novel, proprietary rapamycin analogs which will allow it to develop its growing franchise with this exciting class of therapeutics.
"We look forward to working with Wyeth to maximize the commercial potential of our novel rapamycin analogs and discovery platform. Wyeth is our ideal partner for this collaboration because of its leadership in the discovery, development and commercialization of this class of molecules." says Dr. Mark Bodmer, Chief Executive Officer of Biotica. "We are delighted that Wyeth has recognized the added value that our science can bring to a well-established field."
"Wyeth sees this collaboration as an excellent strategic fit with our rapamycin franchise," says Dr. Frank Walsh, Executive Vice President, Head of Discovery Research, Wyeth
Pharmaceuticals "We look forward to a productive partnership with Biotica because of the high quality of their science in this area."
About Biotica
Biotica is a privately held drug discovery company spun out from the University of Cambridge. It focuses on the discovery and development of novel therapeutics derived from polyketides through the targeted alteration of polyketide Biosynthetic pathways. Polyketides are a class of natural product molecules that have current sales of around $20 billion p.a. across multiple therapeutic areas, including cholesterol-lowering agents, immunosuppressants, anti-cancer agents and anti-infectives. The capability that Biotica has built up in this field gives the Company the opportunity to select from the large number of known polyketides as leads and make a range of derivatives that are difficult or impossible to access by conventional medicinal chemistry. The company is applying this technology to discover novel therapeutics based on a range of polyketide leads, including mTOR inhibitors, Hsp90 inhibitors and angiogenesis inhibitors. For additional information visit www.biotica.com.
About Wyeth
Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing and marketing of pharmaceuticals, vaccines, biotechnology products and nonprescription medicines that improve the quality of life for people worldwide. The Company's major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health. Wyeth Pharmaceuticals has leading products in the areas of gastroenterology, women's health care, cardiovascular disease, central nervous system, inflammation, hemophilia, oncology, and vaccines. For additional information visit www.wyeth.com .
Source: Biotica Technology
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