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news.Trubion Pharmaceuticals has announced that Wyeth Pharmaceuticals, a division of Wyeth, has exercised its option under the terms of its collaboration agreement with Trubion to extend the research period for an additional one-year period through December 22, 2009.
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Under the terms of the research period extension, Wyeth’s obligations to Trubion include collaboration research funding commitments of approximately $3.2 million in exchange for committed research services through December 22, 2009.
Peter Thompson, president, CEO and chairman of Trubion, said: “Wyeth’s ongoing commitment to the collaboration underscores the potential of our technology, and we look forward to continuing our efforts with Wyeth as we pursue the development of additional first-in-class and best-in-class compounds.”