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Dec 05th, 2023
Dec 05th, 2023
Pfizer Inc has secured a minority interest in AM‐Pharma B.V, a privately held Dutch biopharmaceutical firm specialising in the development of recombinant human Alkaline Phosphatase (recAP) for inflammatory diseases.
As part of the agreement, Pfizer parted with an upfront payment of $87.5 million for the minority equity interest. The American multinational pharmaceutical corporation also agreed an exclusive option to acquire the remaining equity in the company at a later date.
Mikael Dolsten, president of worldwide research and development at Pfizer, said the move underscored his company’s commitment to “advancing the science to address the high unmet medical need in Acute Kidney Injury”.
“Clinical data for recAP show the potential to uniquely address Acute Kidney Injury in the setting of sepsis, and we look forward to working with our partners at AM-Pharma as we aim to accelerate the development of recAP into a potential first-in-class treatment for patients.”
Erik van den Berg, chief executive officer of AM-Pharma, “welcomed” Pfizer as a “shareholder and dedicated partner”.
“This agreement is a significant step for AM-Pharma,” he added. “The deal not only provides good shareholder value, but provides the next step in the development of recAP as a potential treatment for patients with Acute Kidney Injury and other inflammatory diseases.”
At present, no drugs are approved for the condition, the only available option for patients coming in the form of dialysis and supportive care.