Pfizer takes stake in, and option to buy, AM-Pharma
US pharma giant Pfizer (NYSE: PFE) has acquired a minority share in AM‐Pharma, a privately held Dutch biotech company focused on the development of recombinant human alkaline phosphatase (recAP) for inflammatory diseases, and has secured an exclusive option to acquire the remaining equity in the company.
The option becomes exercisable on the completion of a Phase II trial of recAP in the treatment of acute kidney injury (AKI) related to sepsis. There are no drugs currently approved for this condition and the only treatment option is dialysis and supportive care. Results from the current Phase II trial for recAP are expected in the second half of 2016.
Some $10 billion a year is spent in the USA on managing the condition. With no approved drugs the only treatment is dialysis and best supportive care. AM-Pharma estimates that scenario translates into potential annual sales of $2 billion for a drug labeled for AKI, according to a Reuters report.
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