Wyeth Pharmaceuticals, a division of Wyeth, has acquired private equity-backed Thiakis, a privately held biotechnology company based in the UK, for an initial payment of $30 million (£20 million).

Wyeth Pharmaceuticals, a division of Wyeth, has acquired private equity-backed Thiakis, a privately held biotechnology company based in the UK, for an initial payment of $30 million (£20 million). The deal includes a deferred element of up to $120 million dependent on Thiakis’s future performance.

The deal is part of Wyeth’s corporate mission to develop and bring to market innovative, high-value medicines that address unmet needs in areas such as metabolic disorders.

Rawlinson & Hunter acted as financial adviser to Thiakis and its investors, providing financial and tax due diligence support. The team was led by corporate partner James Kelly.  

He said, “We are proud to have been involved with Thiakis from its incubation as a spin-out from Imperial College through to the recent sale.

“This acquisition is evidence of Rawlinson & Hunter’s commitment to guide not only Thiakis, but also other spin-outs successfully through the various stages of their business.”