Trubion Pharmaceuticals Announces Extension of Research Period Under Its Wyeth Collaboration

Trubion Pharmaceuticals Announces Extension of Research Period Under Its Wyeth
Collaboration

SEATTLE, June 19 /PRNewswire-FirstCall/ -- Trubion Pharmaceuticals Inc.
(Nasdaq: TRBN) today announced that Wyeth Pharmaceuticals, a division of Wyeth
(NYSE: WYE), has exercised its option under the terms of its collaboration
agreement with Trubion to extend the research period for an additional
one-year period through Dec. 22, 2009. Under the terms of the research period
extension, Wyeth's obligations to Trubion include collaboration research
funding commitments of approximately $3.2 million in exchange for committed
research services through Dec. 22, 2009.
"We are pleased that Wyeth has extended the research period of our
collaboration," said Peter Thompson, M.D., FACP, president, CEO and chairman
of Trubion. "Wyeth's ongoing commitment to the collaboration underscores the
potential of our technology, and we look forward to continuing our efforts
with Wyeth as we pursue the development of additional first-in-class and
best-in-class compounds."
In December 2005, Trubion entered into a collaboration agreement with
Wyeth for the development and worldwide commercialization of TRU-015 and other
CD20-directed therapeutics. The agreement also includes the development and
worldwide commercialization of certain other product candidates directed to a
small number of targets other than CD20 that have been established pursuant to
the agreement. Unless earlier terminated, the agreement will remain in effect
on a product-by-product basis and on a country-by-country basis until the
later of the date that any such product shall no longer be covered by a valid
claim of a U.S. or foreign patent or application and, generally, 10 years
after the first commercial sale of any product licensed under the agreement.
Wyeth may terminate the agreement without cause at any time upon 90 days'
prior written notice.
Trubion retains the right to develop and commercialize, on its own or with
others, product candidates directed to all targets not included within the
agreement, including CD37.
About Trubion
Trubion is a biopharmaceutical company that is creating a pipeline of
novel protein therapeutic product candidates to treat autoimmune and
inflammatory diseases and cancer. The company's mission is to develop a
variety of first-in-class and best-in-class product candidates, customized for
optimal safety, efficacy, and convenience that it believes may offer improved
patient experiences. Trubion's current product candidates are novel
single-chain protein, or SMIP(TM), therapeutics, and are designed using its
custom drug assembly technology. Trubion's product pipeline includes
CD20-directed candidates such as TRU-015 and SBI-087 for autoimmune and
inflammatory diseases, developed under the company's Wyeth collaboration.
Trubion's product pipeline also includes Trubion's proprietary product
candidate, TRU-016, a novel CD37-targeted therapy for the treatment of B-cell
malignancies that is currently in Phase 1/2 clinical evaluation. In addition
to Trubion's current product candidates, the company is also developing
additional alliance and proprietary product candidates that build on its
product development experience. More information is available in the investors
section of Trubion's website: investors.trubion.com.
Forward-Looking Statements
Certain statements in this release may constitute "forward-looking
statements" within the meaning of Section 21E of the Securities Exchange Act
of 1934 and Section 27A of the Securities Act of 1933. These statements
include, but are not limited to, those related to the potential development
and commercialization of new products under the Wyeth collaboration agreement.
These statements are based on current expectations and assumptions regarding
future events and business performance and involve certain risks and
uncertainties that could cause actual results to differ materially. These
risks include, but are not limited to, risks associated with the company's
Wyeth collaboration, including Wyeth's control over development timelines and
the risks that the Company is unable to advance its clinical development
programs and regulatory applications and action at the rate it expects and
such other risks as identified in the company's quarterly report on Form 10-Q
for the period ended March 31, 2008, and from time to time in other reports
filed by Trubion with the U.S. Securities and Exchange Commission. These
reports are available on the Investors page of the company's corporate Web
site at http://www.trubion.com. Trubion undertakes no duty to update any
forward-looking statement to conform the statement to actual results or
changes in the company's expectations.
TRBN-G

Contact:
Jim DeNike
Senior Director, Corporate Communications
Trubion Pharmaceuticals Inc.
(206) 838-0500
jdenike@trubion.com

Waggener Edstrom Worldwide Healthcare
Amy Petty
Senior Account Executive
(617) 576-5788
amyp@waggeneredstrom.com

SOURCE Trubion Pharmaceuticals Inc.

Jim DeNike, Senior Director, Corporate Communications of Trubion
Pharmaceuticals Inc., +1-206-838-0500, jdenike@trubion.com; or Amy Petty,
Senior Account Executive of Waggener Edstrom Worldwide Healthcare,
+1-617-576-5788, amyp@waggeneredstrom.com, for Trubion Pharmaceuticals Inc.