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Jan. 3, 2006 / 10:20 AM

Wyeth, Trubion sign antibody deal -- WSJ

NEW YORK, Jan. 3 (UPI) -- Wyeth and Trubion Pharmaceuticals have reportedly entered a pact to develop antibody drugs.

A report in Tuesday's Wall Street Journal said the development deal calls for Wyeth, based in Madison, N.J., to make an upfront payment to privately held Trubion of $40 million.

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The report also said the pact could be worth as much as $800 million, provided that certain milestones are met.

In addition, the Journal report said that Wyeth agreed to take an equity stake in Seattle-based Trubion if the company goes public.

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