Award winning biotech company Haptogen Ltd has been acquired by one of the world’s biggest pharmaceutical companies in a major deal witnessed today by Scotland’s First Minister.
Wyeth Pharmaceuticals has acquired the hugely successful company - spun out of the University of Aberdeen just five years ago - in a deal thought to be one of Scotland's biggest for a life sciences spinout.
First Minister Alex Salmond will this morning visit the University of Aberdeen's Institute of Medical Sciences for the signing of the acquisition agreement in a move that will bring additional life sciences investment to the region.
The deal - which brings an increased research presence to Scotland by one of the top 10 big pharma - also consolidates North-east Scotland's reputation as an international centre for excellence in biologics – the development and use of natural products to treat and prevent disease. In Haptogen's case it involves engineering antibodies to develop more tailored and less toxic treatment for key diseases such as cancer.
"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."
"Being part of Wyeth Pharmaceuticals - one of the world's largest pharmaceutical companies - and indeed the world's fourth largest biotechnology company - will allow us to fully exploit our technologies and bring forward our therapeutics to the marketplace.
"This move also provides our staff with exciting career development opportunities within one of the world's leading blue chip companies."
Professor Andy Porter, Chief Scientific Officer with Haptogen, and Chair of Biotechnology at the University of Aberdeen, said: "This latest development in the Haptogen story is a testament to the hard work and enthusiasm of a truly international team.
"When we first established Haptogen it was to prevent a brain-drain of talent leaving Scotland to join Cambridge/London biotechnology companies. It has been an exciting and rewarding challenge to reverse this "brain-drain" and establish in Aberdeen a top-rated scientific and commercial unit that is made up of individuals from all over the world."
"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."
Professor C Duncan Rice, Principal and Vice-Chancellor of the University of Aberdeen, added: "The University of Aberdeen is absolutely delighted that the world class expertise and potential of one of our spinouts has been recognised by one of the globe's biggest pharmaceutical companies.
"As a leading university our role as contributors to economic growth is to pioneer exciting new ideas and expertise which can then be translated into benefits both for mankind and for our region."
Professor Stephen Logan, Senior Vice Principal of the University, said: "It is tremendous news for life sciences at the University of Aberdeen and for the city of Aberdeen and beyond.
We look forward to Wyeth Pharmaceuticals joining our dynamic health campus which offers the great advantage of scientists and clinicians working side by side to help speed the delivery of new treatments for patients."
Jennifer Craw, Senior Director of Operations at Scottish Enterprise Grampian, added: "Haptogen is a real success story for the life sciences community in Aberdeen City and Shire and we have worked closely with the company from the spin-out stage to help it grow.
"The ground-breaking work carried out by Haptogen has helped raise our profile among the international life sciences community which in turn attracts overseas investment and research work, generating further growth.
"The sector in Scotland has doubled in terms of both jobs and the number of companies over the last five years and with life sciences globally forecast to grow threefold over the next five years, there are huge opportunities on offer.
"There are around 1,800 people employed in life sciences in Aberdeen City and Shire with around 20 companies operating. We're aiming to help create more and bigger companies in life sciences by increasing innovation and helping them to work internationally and are about to boost our team working with partners to develop the sector in Aberdeen City and Shire to achieve our ambitious targets for growth.''