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Pfizer acquires minority equity stake in AM-Pharma and secures option to acquire remaining equity.
Pfizer announced on May 11 that the company has acquired a minority equity interest in AMâPharma B.V., a privately held Dutch biopharmaceutical company focused on the development of recombinant human Alkaline Phosphatase (recAP) for inflammatory diseases. There are no drugs currently approved for this condition and the only treatment option is dialysis and supportive care.
In addition, Pfizer secured an exclusive option to acquire the remaining equity in the company, which becomes exercisable upon completion of a Phase II trial of recAP in the treatment of Acute Kidney Injury related to sepsis. Results from the current Phase II trial for recAP are expected in the second half of 2016.
Pfizer reports that under the terms of the agreement, the company has made an upfront payment of $87.5 million for the minority equity interest and exclusive option, with additional potential payments of up to $512.5 million upon option exercise and potential launch of any product that may result from this agreement. Other terms of the transaction were not disclosed.