Wyeth buys Thiakis for $150 million
This article was originally published in Scrip
Wyeth has bought Thiakis, a privately-held UK biotechnology company focused on obesity, for $150 million to boost its portfolio of metabolic disorder treatments. Imperial Innovations, a UK technology commercialisation and investment company that had a 23.7% stake in Thiakis, may receive a net cash payment of £22.2 million from the sale, and has rights to royalties on sales. Thiakis is developing TKS1225, an analogue of the peptide hormone oxyntomodulin, for obesity, including conditions associated with excess weight, such as type 2 diabetes and cardiovascular disease. Imperial retains the rights to royalties on sales of Thiakis products. Thiakis was founded in 2004 and raised £10 million from a syndicate of investors in 2006.