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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.
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(END) Dow Jones Newswires
March 20, 2019 07:14 ET (11:14 GMT)
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