Pfizer reports that it plans to acquire BioRexis Pharmaceutical, a privately-held biopharmaceutical company with a number of diabetes candidates and a novel technology platform for developing new protein drug candidates.
"Through this acquisition, we are investing in a company with an exciting new technology and potential new product candidates in diabetes," says Edmund P. Harrigan, M.D., senior vp, worldwide licensing and new business development for Pfizer.
BioRexis is developing long-acting GLP-1 receptor agonists for the treatment of type 2 diabetes. It also developed protein-engineering technologies based on human transferrin that provides therapeutic agents with longer duration of action than synthetic peptides, according to Pfizer. In addition to reducing dosing frequency, these technologies have the potential to improve patient tolerability as compared to other evolving protein therapeutic technologies, Pfizer adds.
The acquisition is expected to close during the first or second quarter of this year.