Pfizer has completed its acquisition of Excaliard Pharmaceuticals, just over a week after announcing its plan to buy the privately-owned company which specialises in skin scarring treatments.
The rationale behind the purchase is the potential of EXC 001, an antisense oligonucleotide which is in Phase II and is designed to interrupt the process of skin fibrosis by inhibiting expression of connective tissue growth factor (CTGF). Jose-Carlos Gutierrez-Ramos, head of biotherapeutics R&D at Pfizer, noted that there is currently no approved treatment for excessive skin scarring and acquiring Excaliard allows the drugs giant to continue development EXC 001 "to potentially fill a gap and bring a novel new treatment to patients".
Specific financial terms are confidential, but at the end of November Isis Pharmaceuticals, which has a stake in Excaliard, revealed that it will receive up to $14 million as part of the deal, including a $4.4 million upfront fee, plus royalties. Other shareholders of the latter included Alta Partners, ProQuest Investments and RiverVest Venture Partners.
Pfizer has also just completed its acquisition of Denmark's Ferrosan Consumer Health, a deal which was originally announced in February.
Based in Copenhagen, Ferrosan specialises in dietary supplements and lifestyle products and has been bought from private equity fund Altor. Paul Sturman, president of Pfizer Consumer Healthcare, said the deal will enhance its presence "in established and emerging markets such as the Nordic countries, Russia and Ukraine".