Wyeth Pharmaceuticals acquires Thiakis

Under the terms of the transaction, Wyeth has acquired Thiakis for approximately $30 million. Additional payments of up to approximately $120 million would be payable upon the achievement of certain development milestones.

Thiakis’ lead product candidate, TKS1225, is being studied for the treatment of medical obesity and other co-morbidities. TKS1225 and related compounds are synthetic versions of the natural gastrointestinal peptide oxyntomodulin.

Mikael Dolsten, president of research at Wyeth, said: “This acquisition is evidence of our commitment to develop and bring to market innovative, high-value medicines that have the potential to address significant unmet needs in critical therapeutic areas such as metabolic disorders. Thiakis’s R&D program fits well with our goal of addressing the medical burden of obesity in a targeted manner using biologic-based therapies.”