Deal will add an early-stage anticancer agent, preclinical oncology and nononcology compounds, and discovery platform.
Eyeing Serenex’ pipeline of compounds targeting heat shock protein 90 (Hsp90), Pfizer has decided to acquire the firm. The transaction, which is expected to close in the second quarter, will give Pfizer only one clinical candidate but an extensive compound library that targets Hsp90.
As per the agreement, Pfizer will gain rights to SNX-5422, an oral Hsp90 inhibitor currently in Phase I trials for the treatment of solid tumors and hematological malignancies. Pfizer will also obtain Serenex’ drug discovery technology as well as preclinical anticancer agents and nononcology molecules.
“The library of early phase compounds also has wide potential for utility in a range of neurodegenerative and anti-inflammatory disorders such as Alzheimer’s disease, Parkinson’s disease, and arthritis,” states Martin Mackay, Ph.D., president of Pfizer global R&D.
Phase II compound, SNX-1012, which is being evaluated as a therapy for oral mucositis in cancer patients, is not included in the agreement.
The potential takeover of Serenex comes less than two weeks after Pfizer reported that it plans to purchase Encysive for $195 million.
