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Pfizer to Acquire BioRexis Pharmaceutical
Pfizer Inc. (New York, NY, www.pfizer.com) will acquire BioRexis Pharmaceutical (Pennsylvania, PA, www.biorexis.com) Corporation, a privately-held biopharmaceutical company with a number of diabetes candidates and a novel technology platform for developing new protein drug candidates.
Pfizer Inc. (New York, NY, www.pfizer.com) will acquire BioRexis Pharmaceutical (Pennsylvania, PA, www.biorexis.com) Corporation, a privately-held biopharmaceutical company with a number of diabetes candidates and a novel technology platform for developing new protein drug candidates. Financial terms of the agreement were not disclosed.
BioRexis has developed proprietary protein engineering technologies based upon human transferrin that provide novel therapeutic agents with longer duration of action than synthetic peptides. In addition to reducing dosing frequency, these technologies have the potential to substantially improve patient tolerability. This new platform supports Pfizer’s commitment to develop novel protein therapeutic agents.
“Through this acquisition, we are investing in a company with an exciting new technology and potential new product candidates in diabetes,” said Edmund P. Harrigan, MD, senior vice president, worldwide licensing and new business development for Pfizer.