BioRexis Pharmaceutical Corporation is a privately-held biopharmaceutical company with a number of diabetes candidates and a novel technology platform for developing new protein drug candidates.
Not disclosing the financial terms of agreement, Pfizer, Inc. (NYSE: PFE) is going to acquire BioRexis.
According to Edmund P. Harrigan, M.D., senior vice president, Worldwide Licensing and New Business Development for Pfizer:
"Through this acquisition, we are investing in a company with an exciting new technology and potential new product candidates in diabetes. This is an example of how we are pursuing compelling science outside our walls in order to deliver new healthcare solutions to customers and patients."
Expected to close during the first or second quarter of this year, the acquisition agreement will enable Pfizer an access to BioRexis’ early stage diabetes pipeline and proprietary protein engineering technologies.
Find more details from the press release.
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