Pfizer Takes 15% Stake in Gene-Therapy Biotech Vivet Therapeutics

Date : 20/03/2019 @ 12h29
Source : Dow Jones News
Valeur : Pfizer, Inc. (PFE)
Cours : 41.47  -0.17 (-0.41%) @ 01h44
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Pfizer Takes 15% Stake in Gene-Therapy Biotech Vivet Therapeutics

Pfizer (NYSE:PFE)
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   By Colin Kellaher 
 

Pfizer Inc. (PFE) on Wednesday said it has acquired a 15% stake in Vivet Therapeutics and will collaborate with the privately held gene-therapy company on the development of a potential breakthrough therapy for the chronic liver disorder Wilson disease.

The New York drug maker said the deal includes an option to buy the rest of Paris-based Vivet.

Pfizer said it paid about $51 million upon signing the deal, and said it could pay up $635.8 million, including the option-exercise payment and subject to certain clinical, regulatory and commercial milestones.

Pfizer said it will work with Vivet to develop VTX-801, Vivet's proprietary treatment for Wilson disease, a rare, chronic and potentially life-threatening liver disorder that causes serious copper poisoning.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

March 20, 2019 07:14 ET (11:14 GMT)

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