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Wyeth Pharmaceuticals and MediVas Announce Research Partnership to Develop Advanced Hemophilia Therapies

2007-02-05 15:27 946

Wyeth - World’s Fourth Largest Biopharmaceutical Company - Seeks to Further Its Innovation in Hemophilia

MADISON, N.J., Feb. 5 /Xinhua-PRNewswire/ -- As part of its ongoing commitment to provide advanced therapies for hemophilia, Wyeth Pharmaceuticals, a division of Wyeth (NYSE: WYE), announced the signing of a research collaboration with MediVas, LLC, a San Diego, California, biomaterials company specializing in improved delivery of biologics. This collaboration was initiated to discover, develop, manufacture and commercialize novel biopharmaceuticals that extend the duration of action of recombinant factor treatments for hemophilia.

MediVas will employ a unique polymer-based drug delivery system to develop advanced delivery methods for recombinant hemophilia products and improve patient convenience through the creation of a longer half-life for these proteins.

"Our new research collaboration is in keeping with Wyeth’s strong presence in biopharmaceuticals and the history of innovation in hemophilia research. The novel approach of polymer-based delivery systems could offer promise for other therapeutic applications," says Cavan Redmond, Executive Vice President and General Manager, BioPharma Business Unit at Wyeth Pharmaceuticals.

Under the terms of the agreement with Wyeth, MediVas will receive milestone payments associated with development, regulatory filings and approvals and royalty payments based on net sales of products. Wyeth will research, develop, manufacture and market any products derived from the agreement.

"We are hopeful that by combining recombinant hemophilia products with our best-in-class polymer delivery system, we can offer an alternative to the intravenous administration of these proteins. We also believe this agreement will be part of a far-reaching relationship between the two companies in many therapeutic areas," says Kenneth W. Carpenter, President and CEO of MediVas.

Hemophilia is a rare, inherited blood clotting disorder, which affects approximately 130,000 worldwide. People with hemophilia are deficient in one of the key proteins - either Factor VIII (hemophilia A) or Factor IX (hemophilia B) - that are vital in the clotting cascade to prevent bleeding. Both forms of hemophilia are characterized by spontaneous hemorrhages or prolonged bleeding, typically into joints and soft tissue. Patients with hemophilia A or hemophilia B are dependent on protein replacement therapy with Factor VIII or Factor IX, respectively, for life.

Wyeth Pharmaceuticals has leading products in the areas of women’s health care, cardiovascular disease, central nervous system, inflammation, transplantation, hemophilia, oncology, vaccines and nutritional products. 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 non-prescription 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.

The statements in this press release that are not historical facts are forward-looking statements based on current expectations of future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include risks associated with the inherent uncertainty of the timing and success of product research, development and commercialization (including with respect to our pipeline products), drug pricing and payment for our products by government and third-party payors, manufacturing, data generated on the safety and efficacy of our products, economic conditions including interest and currency exchange rate fluctuations, changes in generally accepted accounting principles, the impact of competitive or generic products, trade buying patterns, global business operations, product liability and other types of litigation, the impact of legislation and regulatory compliance, intellectual property rights, strategic relationships with third parties, environmental liabilities, and other risks and uncertainties, including those detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, including our current reports on Form 8-K, quarterly reports on Form 10-Q and annual report on Form 10-K, particularly the discussion under the caption "ITEM 1A, RISK FACTORS." We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

Source: Wyeth Pharmaceuticals
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