Pfizer acquires option in Dutch firm AM-Pharma

Pfizer has acquired a minority equity interest in AM-Pharma, a Dutch biopharmaceutical company focused on the development of inflammatory disease therapies.

The deal also includes an exclusive option to acquire the remaining equity in the company, which will become exercisable upon completion of a phase II trial assessing a treatment for acute kidney injury related to sepsis.

AM-Pharma specialises in recombinant human alkaline phosphatase (recAP) therapies, which have shown strong promise in the treatment of this condition, for which there are currently no available drug therapies.

Pfizer has made an upfront payment of $87.5 million (55.61 million pounds) for the minority stake and buyout option, with additional potential payments of up to $512.5 million upon option exercise and the potential launch of any product resulting from this agreement.

Dr Mikael Dolsten, president for worldwide research and development at Pfizer, said: "We look forward to working with our partners at AM-Pharma as we aim to accelerate the development of recAP into a potential first-in-class treatment for patients."

This comes after the company agreed a major deal to acquire Hospira earlier this year.