Trubion Pharmaceuticals Inc. (TRBN)

[surf1944]

Trubion says Wyeth extends research collaboration
Friday June 20, 11:04 am ET
Trubion says Wyeth extends research deal on drug candidate for arthritis, cancer

SEATTLE (AP) -- Biopharmaceutical company Trubion Pharmaceuticals Inc. said Thursday Wyeth the companies' research partnership for an additional year, resulting in $3.2 million of additional funding from Wyeth.
Trubion shares rose 41 cents, or nearly 8 percent, to $5.69, while Wyeth shares shed 8 cents to $47.74 in morning trading.

The extension continues through Dec. 29, 2009 a collaboration on TRU-015, currently in mid-stage development for rheumatoid arthritis, and other candidates that target the protein CD20 found in B cells in the immune system.

TRU-015 is also in early-stage development for B-cell cancers such as non-Hodgkin's lymphoma and leukemia and is in pre-clinical development as a treatment for lupus.

Under an agreement signed in December 2005, Trubion received a $40 million upfront payment, and is eligible for development milestones and royalties up to $800 million.






surf's up......crikey