COLLEGEVILLE, Pa. (AP) — Wyeth Pharmaceuticals, a unit of drug maker Wyeth, said Friday it has agreed to acquire Haptogen Ltd., a Scottish company focused on the discovery of biopharmaceutical therapies.
Financial terms were not disclosed.
Wyeth said Haptogen has developed technologies to create improved protein therapies that have the potential for more convenient routes of administration as well as cell and organ penetration.
The company said Haptogen's biotechnology discovery technologies complement Wyeth's own biotherapeutic discovery efforts.
Following the acquisition, Haptogen will become part of Wyeth Discovery Research.
Haptogen was founded in 2002 as a spin-out of the University of Aberdeen.