BY: SELINA MCKEE
Pfizer has picked up a minority equity interest in AM-Pharma alongside an exclusive option to buy up the remaining equity in the firm, in a deal potentially worth up to $600 million.
Pfizer can exercise its option on completion of a Phase II trial of AM-Pharma’s recAP, a potential first-in-class therapy for Acute Kidney Injury (AKI) related to sepsis, results of which are expected in the second half of next year.
Under the terms of the deal, the private Dutch biotech has bagged an $87.5-million upfront payment for the minority equity interest and exclusive option, but stands to receive additional potential payments of up to $512.5 million for the remaining equity and potential launch of any product resulting from the agreement.
Further terms of the deal were not revealed.