Pfizer to acquire FoldRx

NEW YORK Pfizer announced Wednesday that it will acquire a privately held drug discovery and clinical development company.

FoldRx's portfolio includes clinical and preclinical programs for investigational compounds to treat diseases caused by protein misfolding, which increasingly is recognized as an underlying cause in many chronic degenerative diseases. FoldRx's lead product candidate, tafamidis meglumine, is an oral, disease-modifying therapy for TTR amyloid polyneuropathy (ATTR-PN), a progressively fatal genetic neurodegenerative disease, for which liver transplant is the only treatment option that currently is available, the companies said.

Financial terms of the agreement were not disclosed.

"By combining FoldRx's proprietary expertise in identifying and developing treatments for protein misfolding diseases with Pfizer's commercial, medical and regulatory expertise, and global strengths in patient services and reimbursement, we are taking a significant step toward potentially bringing, for the first time, a nonsurgical treatment option for underserved patients affected by the deadly disease ATTR-PN," said Geno Germano, president and general manager of Pfizer's specialty care business unit. "This transaction will add another important component to the growing portfolio of innovative in-line and investigational medicines for orphan and rare diseases within Pfizer's specialty care business, and will complement the current and planned future research and clinical development taking place in Pfizer's specialty care neuroscience disease area."

Added FoldRx president and CEO Richard Labaudiniere, "Pfizer's strong clinical and regulatory resources, global marketing reach and commitment to the treatment of rare diseases will significantly enhance the ability to pursue the goal of efficiently bringing tafamidis to all patients affected by this devastating neurodegenerative disease."