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 Dec. 22, 2010.
Under the terms of the new agreement, Wyeth will have funding commitments of approximately $3.3 million in exchange for committed research services to Trubion.
Earlier in December 2005, Trubion and Wyeth entered into a collaboration for the development and worldwide commercialization of TRU-015 and other CD20-directed therapeutics.
Peter Thompson, President, CEO and Chairman, Trubion, said: We are pleased that Wyeth has extended the research period of our collaboration. 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.