Aug 15 2005
Pfizer and Bioren today announced the completion of a transaction in which Pfizer purchased all outstanding stock of Bioren for an undisclosed amount.
Bioren is a California-based, privately held company specializing in technology for optimizing antibodies. Antibody optimization technologies assist drug companies in developing medicines with improved properties such as greater and longer lasting efficacy. Bioren has developed Walk-Through Mutagenesis (WTM) and Look-Through Mutagenesis (LTM) technologies to improve the drug development of antibodies.
"The acquisition of Bioren strengthens Pfizer's commitment to the antibody space," said Nick Saccomano, Ph.D., Pfizer's senior vice president for Worldwide Research Technology. "The ability to use and develop these technologies will help Pfizer identify new antibody leads as well as improve current antibodies in development."
Bioren's Founder and Chief Executive Officer, Dr. Roberto Crea, said, "We are delighted to be joining such a successful, world-class pharmaceutical company. It is a tremendous endorsement of both Bioren's technologies and our committed and innovative scientific staff. We are very excited about the great opportunity provided by Pfizer to apply our platform technologies in developing new antibodies that will benefit millions of patients."
Over the last five years Pfizer has made significant internal and external investments, including the acquisition of Bioren, which have resulted in a substantial portfolio of therapeutic proteins and other macromolecules currently in various stages of development.
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