Both Fierce Biotech and Xconomy have stories on Pfizer's latest acquisition to bolster its holdings in the orphan drug and rare disease area. FoldRx has a lead drug candidate, tafamadis, in Phase II for the treatment of TTR amyloid neuropathy. FoldRx also had just secured a fresh round of funding -- $29 M --in its bank account. FoldRx has already filed with European regulators for drug approval and is preparing its application with to the FDA.
This buy adds to Pfizer's plans to set up a rare disease center in Boston -- announced in June. It also follows on the heals of a licensing deal in December 2009 with Protalix BioTherapeutics in Israle for a treatment for Gaucher's Disease.
Said Pfizer's Geno Germano, division President, the FoldRx deal "will complement the current and planned future research and clinical development taking place in Pfizer's Specialty Care Neuroscience disease area."
Posted by Bruce Lehr September 1st 2010.