More merging in the biotech areas of healthcare...BD
Pfizer expands in oncology and buys biotech firm Serenex
Just a fortnight after snapping up Encysive Pharmaceuticals, Pfizer has announced plans to acquire Serenex, a privately-held biotechnology company that specialises in oncology.
No financial details of the deal were disclosed but for the money it is paying out, Pfizer is acquiring the rights to SNX-5422, an oral heat shock protein 90 inhibitor which is currently in Phase I trials for the potential treatment of solid tumours and haematological malignancies. The New York-based behemoth is also acquiring Serenex’ proprietary drug discovery technology and “extensive small molecule Hsp90 inhibitor compound library”, which has potential uses in treating cancer, inflammatory and neurodegenerative diseases.
PharmaTimes | Industry News | World News | Pfizer expands in oncology and buys biotech firm Serenex