June 23, 2009 (FinancialWire) — Trubion Pharmaceuticals, Inc. (NASDAQ: TRBN) said that Wyeth’s (NYSE: WYE) pharmaceutical unit has exercised an option under the terms of its collaboration agreement with Trubion to extend the research period for an additional one-year period through December 22, 2010.

Under the terms of the research period extension, Wyeth’s obligations to Trubion include collaboration research funding commitments of around $3.3 million in exchange for committed research services..

In December 2005, Trubion entered into a collaboration agreement with Wyeth for the development and worldwide commercialization of Trubion’s TRU-015 and other 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. Wyeth may terminate the agreement without cause at any time upon 90 days’ written notice.

Trubion said it 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.

Seattle-based Trubion is a biopharmaceutical company that is developing a pipeline of novel protein therapeutic product candidates to treat autoimmune and inflammatory diseases and cancer.

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