Pfizer to Acquire Excaliard Pharmaceuticals

Pfizer has signed an agreement to acquire privately owned biopharmaceutical company Excaliard Pharmaceuticals.

Pfizer Inc. and Excaliard Pharmaceuticals, Inc. announced yesterday a definitive agreement under which Pfizer will acquire Excaliard, a privately owned biopharmaceutical company focused on developing novel drugs for the treatment of skin fibrosis, more commonly referred to as skin scarring.

Pfizer will provide to Excaliard an upfront payment and contingent payments if certain milestones are achieved. The acquisition is expected to close before the end of the year.

"The acquisition of Excaliard is part of our corporate research and development strategy to actively complement our robust internal project pipeline with innovative and differentiated drugs from biotech partners," said Mikael Dolsten, pr