Pfizer expands gene therapy operations with acquisition of Bamboo Therapeutics
pharmafile | August 2, 2016 | News story | Manufacturing and Production, Research and Development | Pfizer, acquisition, bamboo therapeutics, gene therapy
Pfizer has announced that it has acquired gene therapy biotech Bamboo Therapeutics for an initial $150 million, with potential milestone payments worth up to $495 million, as part of its aim to become the “industry leader” in the field.
This emerging technology, which has seen development from major players such as GSK and Biogen, involves introducing genetic material into the body to deliver a corrected copy of a gene to a patient’s cells to compensate or repair a defective one. It is believed that this method could address the root causes of a wide variety of diseases.
The acquisition of Bamboo, who focuses on developing gene therapies for rare neuromuscular diseases, will grant Pfizer access to clinical and pre-clinical assets, an advanced recombinant adeno-associated virus (rAAV) vector design and production technology, and a fully functional Phase I/II gene therapy manufacturing facility.
Gregory LaRosa, chief scientific officer of rare disease research unit at Pfizer, says: “We believe Bamboo’s industry leading capabilities in rAAV vector design and manufacturing complement Pfizer’s rare disease strategy and help advance Pfizer’s mission to deliver life-changing innovation to patients with the greatest needs. Bringing together Pfizer and Bamboo colleagues’ deep scientific understanding of both rAAV biology and complex biologic manufacturing will help position us for success in this area.”
Dr Jude Samulski, chief scientific officer at Bamboo, will now join the team at Pfizer. He comments: “We are pleased to begin working with Pfizer, as this represents a significant step toward bringing Bamboo’s portfolio into the clinic and ultimately potential new medicines to patients.”
Sean Murray
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