Pfizer to acquire skin specialist firm Excaliard
pharmafile | November 28, 2011 | News story | Sales and Marketing | EXC 001, Excaliard, Pfizer
Pfizer will acquire skin specialist Excaliard Pharmaceuticals as the firm looks to further diversify its pipeline.
Financial terms of the deal were not disclosed, but Pfizer said it would make an upfront payment and contingent payments if certain milestones were achieved.
Isis Pharmaceuticals, which has a stake in Excaliard, said that it would receive up to $14 million as part of the deal, including a $4.4 million upfront fee, plus royalties.
The deal with the San Diego biotech firm is part of a long-term diversification plan that saw Pfizer acquire pain specialist King’s Pharmaceuticals last year.
Under the terms of the deal Pfizer will gain Excaliard’s lead candidate EXC 001, a potential treatment for skin scarring, currently undergoing mid-stage trials.
Jose-Carlos Gutierrez-Ramos, senior VP of worldwide R&D at Pfizer, said: “The science behind Excaliard’s lead compound aligns well with our R&D focus on new treatments for fibrosis and tissue remodeling.
“We view EXC 001 as being well positioned to potentially become a novel, transformative therapy in a space with limited available treatment options.”
EXC 001 is an antisense oligonucleotide in Phase II and is designed to interrupt the process of fibrosis (scarring) by inhibiting expression of connective tissue growth factor (CTGF).
The mid-stage trials for EXC 001 have so far produced positive clinical results in reducing scar severity.
Upon completion of the acquisition, Pfizer plans to continue development of the drug to address unmet medical needs in patient groups who suffer from excessive skin scarring.
Currently, there are no FDA-approved products to reduce scar severity.
Mikael Dolsten, president of worldwide R&D at Pfizer, said: “The acquisition of Excaliard is part of our corporate research and development strategy to actively complement our robust internal project pipeline with innovative and differentiated drugs from biotech partners.”
Ben Adams
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