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November 19, 2007

Pfizer Enters Agreement to Acquire Coley Pharmaceutical Group

    By Christopher P. Singer --

Coley_pharma_logo In a November 16, 2007 press release, Pfizer Inc. announced that it will acquire Coley Pharmaceutical Group, Inc. (NASDAQ: COLY).  Coley is a biopharmaceutical company that has several research programs which include vaccine adjuvants (VaxImmune®) as well as a class of immunomodulatory drug candidates that are designed to modulate Toll-like Receptors (TLRs), and are under investigation for treatment of cancers, allergy and asthma disorders, and autoimmune diseases.  According to Jeffrey B. Kindler, Pfizer's Chairman and CEO, the addition of Coley will complement and enhance Pfizer's vaccine and immunotherapy programs.

Pfizer_3 The terms of the agreement include an $8 per share cash offer from Pfizer for all of Coley's outstanding common stock, which is estimated to total about $164 million.  The acquisition is subject to a number of closing conditions.

Posted at 05:07 PM in Licensing |

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