Pfizer Acquires Minority Interest in AM-Pharma

Pfizer has acquired a minority equity interest in AM-Pharma and secured an exclusive option to acquire the company. AM‐Pharma is a privately held Dutch biopharma company focused on the development of recombinant human Alkaline Phosphatase (recAP) for inflammatory diseases.
 
Pfizer has made an upfront payment of $87.5 million for the minority interest and exclusive option, with additional potential payments of up to $512.5 million upon the potential launch of any product from this agreement.
 
Pfizer may exercise the option upon completion of a Phase II trial of recAP in the treatment of Acute Kidney Injury (AKI) related to sepsis, for which there are no drugs currently approved. Results from the Phase II trial are expected in 2H16.
 
“Pfizer is committed to advancing the science to address the high unmet medical need in Acute Kidney Injury,” said Mikael Dolsten, M.D., Ph.D., president, Worldwide R&D at Pfizer. “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 said, “This agreement is a significant step for AM-Pharma, and we welcome Pfizer as a shareholder and dedicated partner. This 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.”