Wyeth buys UK biotech Thiakis for $150M
Wyeth Pharmaceuticals, a division of US drug major Wyeth, has acquired privately-held UK biotechnology company Thiakis. The firm's lead product candidate, TKS1225, is being studied for the treatment of medical 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 acquires Thiakis for around $30.0 million. Additional payments of up to about $120.0 million would be payable upon the achievement of certain development milestones.
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