In the first quarter of this year, Pfizer purchased about 22% stake in Bamboo for $43m.
Under the latest deal, Pfizer made a $150m upfront payment, and Bamboo stands to make $495m in milestone payments.
Pfizer gains Bamboo’s gene therapy expertise, as well as an advanced recombinant Adeno-associated virus (rAAV) vector design and production technology and a gene therapy manufacturing facility for Phase I/II materials.
As part of the deal, Bamboo chief scientific officer and executive chairman Jude Samulski will join Pfizer.
Samulski, together with the Bamboo team, will play an important role in helping to develop and speed up Pfizer’s gene therapy capabilities.
Pfizer Worldwide Research & Development president Mikael Dolsten said: “The field of gene therapy research has made tremendous strides in recent years, and we are pleased to be able to further enhance our leadership position in this area through this transaction with Bamboo.
“We believe that gene therapy may hold the promise of bringing true disease modification for patients suffering from devastating diseases, and we hope to see this promise come to fruition – through new and existing in-house capabilities and potential partnership opportunities – in the years to come.”
Pfizer has been investing in gene therapy in recent years. In 2014, the company created a research group in London to identify potential gene therapy projects.
The company is also collaborating with Spark Therapeutics to develop a treatment for the blood clotting disorder hemophilia B.
Image: Pfizer World Headquarters New York City. Photo: courtesy of Norbert Nagel, Mörfelden-Walldorf, Germany.