“The acquisition is a further step in Pfizer's strategy to accelerate our business development and licensing activity while ensuring appropriate operational and financial discipline,” said David Shedlarz, vice chairman of Pfizer.
BioRexis is developing long-acting GLP-1 receptor agonists for the potential treatment of patients with type 2 diabetes. Early studies with these compounds support their potential to advance new treatment options for this disease.
BioRexis has developed proprietary protein engineering technologies based upon human transferrin that provide novel therapeutic agents with substantially longer duration of action than synthetic peptides. In addition to reducing dosing frequency, these technologies have the potential to substantially improve patient tolerability compared to other evolving protein therapeutic technologies.
The acquisition is subject to customary closing conditions and is expected to close during the first or second quarter of this year. Financial terms of the agreement have not been disclosed.