NEW YORK (AP) – Pfizer Inc. said on Dec. 2 that it completed its acquisition of the privately held Excaliard Pharmaceuticals Inc., which is testing a treatment for skin scarring.
Pfizer said the deal terms were confidential, but it will pay an upfront sum and then possible milestone payments to Excaliard shareholders. That includes Isis Pharmaceuticals Inc., which is based in Carlsbad, Calif.
Excaliard’s lead product, labeled EXC 001, is in mid-stage testing and aims to reduce the severity of scarring, or skin fibrosis. Pfizer said there is currently no Food and Drug Administration-approved treatment for excessive skin scarring.
The Associated Press