Haptogen was founded in 2002 as a spin-out of the University of Aberdeen, and its facilities are located on the University of Aberdeen campus
Wyeth Pharmaceuticals has acquired Haptogen, a Scottish company based in Aberdeen that is focused on the discovery of biopharmaceutical therapies.
This acquisition significantly increases Wyeth's already robust biotechnology drug discovery capabilities.
"Haptogen brings to Wyeth a suite of next-generation biotechnology discovery technologies that complement Wyeth's ongoing biotherapeutic discovery efforts," says Frank Walsh, executive vice president of discovery, Wyeth Research.
"In addition to the exciting technology and first-rate research team that we are bringing into our organisation, we consider the opportunity to conduct biopharmaceutical drug discovery in Scotland particularly important because of the rich pool of scientific and technological talent".
Haptogen has developed a number of technologies that allow for the discovery and optimisation of protein therapeutics with significantly improved profiles over the current generation of protein therapies.
Such benefits include the potential for more convenient routes of administration as well as cell and organ penetration, opening the opportunity to address diseases that are not treatable with the first generation of protein therapeutics.
Through the acquisition, Haptogen becomes part of Wyeth Discovery Research.
In addition to Haptogen, Wyeth has a significant ongoing research relationship in the field of translational medicine through the Translational Medicine Research Collaboration.
This partnership, which was launched in 2006, includes Wyeth as well as the Universities of Aberdeen, Edinburgh, Dundee and Glasgow, regional National Health Service boards and Scottish Enterprise.
"Since Haptogen started its discussions with Wyeth, we have been impressed by the quality and commitment of the people we have met," says Jim Reid, founder and chief executive officer of Haptogen .
"We believe that combining Haptogen's technology platforms with Wyeth's existing discovery and development capabilities creates the greatest opportunity for realising the potential to bring new treatments to patients".
The first minister of Scotland, Alex Salmond said: "I am delighted to welcome this announcement by Haptogen and Wyeth today, and I am particularly pleased to see this kind of investment in the north east.
"It is yet another confirmation of Scotland's position among the vanguard of life sciences.
"Not only does it put the international spotlight once more on the fantastic scientific work being done throughout our nation, it also boosts Aberdeen's growing reputation as a hub for life sciences expertise.
"The English speaking world's first professor of medicine was appointed at Aberdeen University more than half a millennium ago.
"And brilliant Scottish minds have been responsible for some of the world's most significant medical advances, - from antibiotics, anaesthesia and penicillin, to modern day breakthroughs like the MRI scanner.
"Now in the present day with investment of major international companies like Wyeth, and new hubs of scientific expertise thriving around the country, it is an exciting time for life sciences in Scotland.
"We have one of Europe's largest - and fastest growing - life science communities - with a track record of excellence at every stage, from early research to clinical trials and to commercialisation.
"I am passionate about the industry, and its incredible potential to shape Scotland's future economic prosperity.
"And my government will match that passion with the support that is needed to ensure that we achieve our potential.
"I am confident Scotland can once again be known around the world as the home of life changing new treatments and technologies."
