Pfizer to acquire BioRexis Pharmaceutical

Pfizer has announced that it has entered into an agreement to acquire privately-held BioRexis Pharmaceutical. The financial details of the transaction agreement have not been disclosed.

BioRexis has a number of drug candidates for diabetes and is developing long-acting GLP-1 receptor agonist for use in treating type two diabetes, with early trials suggesting the potential for new treatment options in this field.

The company has also created an innovative technology platform for the development of new protein drug candidates. This protein engineering technology is based upon human transferrin, which could result in reduced dosing frequency and improved tolerability as a result of its longer duration of action compared to synthetic peptides.

Edmund P Harrigan, senior vice president of worldwide licensing and new business development for Pfizer, said: “Through this acquisition, we are investing in a company with an exciting new technology and potential new product candidates in diabetes.”

He added that this acquisition was indicative of the Pfizer’s willingness to look outside the company in its search for new healthcare products and treatment options for patients.

Last year, Pfizer announced the sale of its consumer healthcare business, reporting that the proceeds from these sales would be invested in the growth of its core pharmaceuticals business.