Pfizer Announces Completion of Excaliard Acquisition

Pharma giant Pfizer has announced that the acquisition of Excaliard Pharmaceuticals has been completed.

Pfizer Inc. announced last Friday its completion of the acquisition of Excaliard Pharmaceuticals, Inc., a privately owned biopharmaceutical company focused on developing novel drugs for the treatment of skin fibrosis, more commonly referred to as skin scarring.

While specific financial terms are confidential, Pfizer provided Excaliard's shareholders an upfront payment and will make contingent payments if certain milestones are achieved in the future.

"It is imperative at Pfizer that we continue to develop new and innovative treatments to address unmet medical needs, and there is currently no FDA-approved treatment for excessive skin scarring,” said Jose-Carlos Gutierrez-Ramos, senior vice president, Biotherapeutics, Worldwide Research and Development, Pfizer.