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Pharmaceutical

Pfizer to acquire Excaliard Pharmaceuticals

November 22, 2011
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NEW YORK and SAN DIEGO — Pfizer Inc. and Excaliard Pharmaceuticals, Inc. announced today that they have entered into a definitive agreement under which Pfizer will acquire Excaliard, a privately-owned biopharmaceutical company focused on developing novel drugs for the treatment of skin scarring, according to a press release.

The acquisition is expected to close before the end of the year.

Excaliard''s lead product, EXC 001, an antisense oligonucleotide in phase 2, is designed to interrupt the process of fibrosis by inhibiting expression of connective tissue growth factor (CTGF).

"The acquisition of Excaliard is part of our corporate research and development strategy to actively complement our robust internal project pipeline with innovative and differentiated drugs from biotech partners," said Mikael Dolsten, president, Worldwide Research and Development, Pfizer.
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