Pfizer Takes 15% Stake in Gene-Therapy Biotech Vivet Therapeutics
20 Mars 2019 - 12:29PM
Dow Jones News
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)
Copyright (c) 2019 Dow Jones & Company, Inc.
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