AM-Pharma signs $600 million acquisition option with Pfizer
Bunnik, The Netherlands, and New York, NY – AM?Pharma B.V., a privately held Dutch biopharmaceutical company focused on inflammatory diseases, announced today that Pfizer Inc. (NYSE: PFE) has acquired a minority equity interest in AM-Pharma and secured an exclusive option to acquire the remaining equity in the company. The option becomes exercisable upon completion of a Phase II trial of Alkaline Phosphatase (recAP) in the treatment of Acute Kidney Injury (AKI) related to sepsis. There are no drugs currently approved for this condition and the only treatment option is dialysis and supportive care. Results from the current Phase II trial for recAP are expected in the second half of 2016.
Under the terms of the agreement, Pfizer has made an upfront payment of $87.5 million for the minority equity interest and exclusive option, with additional potential payments of up to $512.5 million upon option exercise and potential launch of any product that may result from this agreement. Other terms of the transaction were not disclosed.
Gilde Healthcare led the last EUR 12 million financing round in 2014.
AM?Pharma is a biopharmaceutical company focused on the preclinical and clinical development of recAP (recombinant Human Alkaline Phosphatase) as a treatment of Acute Kidney Injury (AKI), Ulcerative Colitis (UC), and Hypophosphatasia (HPP). Based on the strong results of the Phase II trials with bovine Alkaline Phosphatase in AKI and UC, AM?Pharma developed an innovative recombinant form of human Alkaline Phosphatase (recAP), which will be used in future trials and for commercialization.
For more details see www.am-pharma.com
About Gilde Healthcare
Gilde Healthcare (Utrecht, The Netherlands and Cambridge, Massachusetts, US) is a private equity investor focused on fast growing healthcare businesses. It manages €550 million across five specialized funds. The Gilde Healthcare Technology funds target companies developing home & digital health solutions, medical devices and medicines in Europe and the USA. The Gilde Healthcare Services funds focus on healthcare service providers, such as specialist clinics, elderly care, primary care, mental health and other healthcare service providers in the Benelux and Germany.