SOUTH SAN FRANCISCO, Calif., Dec. 16, 2010 /PRNewswire/ -- Catalyst Biosciences, Inc., the leading company in the discovery and development of engineered proteases, today announced the receipt of a $4.0 million milestone payment from Pfizer Inc. under the terms of the collaboration agreement for the development of improved recombinant human Factor VIIa variants for the treatment of hemophilia and other bleeding disorders.
"We are very encouraged by the progress made to date in our Factor VIIa program, the most advanced program within Catalyst's hemostasis franchise," said Nassim Usman, Ph.D., Catalyst's CEO. "In addition to our work with Pfizer, Catalyst has independently achieved significant progress in engineering highly differentiated recombinant human Factor IX and Xa variants for acute and prophylactic treatment of bleeding disorders, including both hemophilia and non-hemophilia indications. Catalyst expects to expand and strengthen this pipeline of novel engineered proteases in the coming year."
In June 2009 Catalyst and Wyeth LLC (the successor to Wyeth), a wholly owned subsidiary of Pfizer Inc., formed an exclusive, worldwide collaboration for the discovery, development and commercialization of improved, second generation Factor VIIa products. Total payments under the collaboration, including an upfront payment of $21 million, ongoing research funding, and milestone payments, could exceed $500 million, exclusive of double-digit royalty payments.
About Catalyst Biosciences
Catalyst Biosciences is developing the next generation of biopharmaceuticals by harnessing the catalytic power of engineered proteases that target proteins underlying diseases. Catalyst's discovery platform rapidly creates and optimizes tailor-made protease drug candidates that cleave a wide variety of disease targets, either by improving existing protease drugs or by creating new protease drugs, known as Alterase™ therapeutics. Catalyst is focusing its product development efforts on drug candidates for hemophilia, non-hemophilic bleeding, and complement-driven diseases, including the prevention of delayed graft function and inflammation. Catalyst has ongoing research, development, and license agreements with Wyeth Pharmaceuticals, a wholly owned subsidiary of Pfizer Inc. and MedImmune, LLC, the global biologics unit of AstraZeneca plc. Catalyst is privately held with backing by leading venture firms, including Burrill & Company, Essex Woodlands Health Ventures, HealthCare Ventures, Johnson & Johnson Development Corporation, Morgenthaler Ventures, Novartis BioVentures, RCT BioVentures, and Sofinnova Ventures. For more information, please visit www.catbio.com.
Catalyst Biosciences, Inc.
William J. Dawson
Chief Financial Officer
BCC Partners for Catalyst Biosciences
Karen L. Bergman or Michelle Corral
+1.650.575.1509 or +1.415.794.8662
SOURCE Catalyst Biosciences, Inc.