Wyeth Acquires Haptogen

Wyeth Pharmaceuticals signed a definitive agreement to acquire Haptogen Ltd., a Scottish biopharmaceutical company based in Aberdeen. Haptogen will become part of Wyeth Discovery Research.

Haptogen has developed technologies that allow for the discovery and optimization of protein therapeutics with improved profiles over the current generation of protein therapies. The benefits include the potential for more convenient routes of administration as well as cell and organ penetration, addressing diseases that are not treatable with first generation protein therapeutics.

“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. “In addition to the exciting technology and first- rate research team that we are bringing into our organization, we consider the opportunity to conduct biopharmaceutical drug discovery in Scotland particularly important because of the rich pool of scientific and technological talent.”

“Since Haptogen started its discussions with Wyeth, we have been impressed by the quality and commitment of the people we have met,” says Jim Reid, founder and chief executive officer of Haptogen Ltd. “We believe that combining Haptogen’s technology platforms with Wyeth’s existing discovery and development capabilities creates the greatest opportunity for realizing the potential to bring new treatments to patients.”