Wyeth Pharmaceuticals acquires Thiakis for US$30m

Wyeth Pharmaceuticals has acquired Thiakis, a privately held biotechnology company based in London.

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

Under the terms of the transaction, Wyeth has purchased the firm for approximately US$30m. Additional payments of up to $120m could be payable on reaching certain development milestones.

Mikael Dolsten, president of Wyeth Research, said: "Thiakis' research and development programme fits well with our goal of addressing the medical burden of obesity in a targeted manner using biologic-based therapies."

Wyeth has significant ongoing research in metabolic diseases and is a leader in the development and commercialisation of biotechnology-based drugs.

John Burt, chief executive and co-founder of Thiakis, added: "We are certain we have chosen the right company to follow through on our vision and commitment to develop and commercialise important new therapies that help address the growing worldwide medical epidemic of obesity."

Based on WHO estimates, at least 300 million people are obese worldwide. Excess body weight is associated with numerous medical conditions including Type 2 diabetes, hypertension, stroke, cardiovascular disease, respiratory problems, gall bladder disease, osteoarthritis and sleep apnea.