Tuesday, June 30, 2009, 11:36am EDT

Wyeth Pharmaceuticals, Catalyst collaborating on hemophilia drug

Philadelphia Business Journal

Wyeth Pharmaceuticals said Tuesday that it has formed an exclusive worldwide collaboration with Catalyst Biosciences Inc. to develop treatments for hemophilia and other bleeding conditions.

Collegeville, Pa.-based Wyeth Pharmaceuticals, a division of Wyeth (NYSE:WYE) said it will pay South San Francisco, Calif.-based Catalyst $21 million upfront. Total payments for research funding and milestones could exceed $500 million, the companies said.

Wyeth Research President Mikael Dolsten said the relationship is “an opportunity to expand Wyeth’s hemophilia franchise.”

Catalyst has a drug candidate, known as CB 813, for treatment and prevention of acute bleeding in hemophilia patients.

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