Pfizer Acquires Minority Equity Interest In AM-Pharma - Quick Facts

(RTTNews) - Pfizer Inc. (PFE) announced that it has acquired a minority equity interest in AM-Pharma and secured an exclusive option to acquire the remaining equity in the company. AM-Pharma B.V. is a privately held Dutch biopharmaceutical company focused on the development of recombinant human Alkaline Phosphatase for inflammatory diseases.

The option becomes exercisable upon completion of a Phase II trial of recAP in the treatment of Acute Kidney Injury (AKI) related to sepsis. Results from the current Phase II trial for recAP are expected in the second half of 2016.

Pfizer has made an upfront payment of $87.5 million for the minority equity interest and exclusive option, with additional potential payments of up to $512.5 million upon option exercise and potential launch of any product that may result from the agreement.