Pfizer to Acquire Partner Icagen for $56M
Pfizer Inc. said Wednesday it will acquire the remaining stake in Icagen Inc.
Pharmaceutical giant Pfizer and its development and commercialization partner Icagen jointly announded Wednesday that Prizer will acquire Icagen by buying the remaining 89% of Icagen shares that Pfizer does not currently own. The transaction value, including the value of the shares currently owned by Pfizer,will cost approximately $56 million.
In 2007, Pfizer and Icagen entered into a discovery and commercialization collaboration for the development of treatments for pain and related disorders utilizing sodium ion channels, which have the potential for fewer side effects.
"We’re excited that Icagen, a global leader in pain research, will join Pfizer, further strengthening our innovative core,” said Ruth McKernan, senior vice president, Pfizer’s P
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