Wyeth Pharmaceuticals and Catalyst Biosciences Announce Agreement to Develop and Commercialize Factor VII...( Multi-Product Collaboration Valued Po...),Health

Multi-Product Collaboration Valued Potentially at More Than $500 Million

COLLEGEVILLE, Pa., and SOUTH SAN FRANCISCO, Calif., June 30 /PRNewswire/ -- Wyeth Pharmaceuticals, a division of Wyeth (NYSE: WYE) and Catalyst Biosciences, Inc. today announced that the two companies have formed an exclusive worldwide collaboration for the discovery, development and commercialization of Factor VIIa products to treat hemophilia and other bleeding conditions. Total payments under the collaboration, including an upfront payment of $21 million, research funding and milestone payments, could exceed $500 million, exclusive of royalty payments.

Through the collaboration, Wyeth will support the discovery, research and preclinical development by Catalyst of Factor VIIa products, including CB 813, Catalyst's investigational candidate drug for the treatment and prophylaxis of acute bleeding in patients with hemophilia. The term of the exclusive research portion of the collaboration is two years, and may be extended by Wyeth for up to three additional years. During the research term of the agreement, Catalyst will receive support for up to twelve full-time employees. Wyeth will be responsible for the development, manufacturing and worldwide commercialization of products resulting from the collaboration. In addition, during the research term, Wyeth would have the right of first negotiation for any additional clotting factors discovered by Catalyst to treat hemophilia and other bleeding conditions.

Catalyst anticipates it would earn payments of up to $40 million or more over the next two years, including the upfront payment, committed research funding and preclinical and clinical milestone payments. In addition, Catalyst will be eligible to receive escalating clinical development and commercialization milestones, plus tiered double-di
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