Graceway Pharmaceuticals Acquires Early-stage Dermatological Molecules from Pfizer
News Jul 02, 2009
Graceway Pharmaceuticals, LLC, a portfolio company of GTCR Golder Rauner, LLC, and Pfizer Inc. announced that they have entered into an Acquisition and License Agreement by which Graceway will acquire the worldwide commercial rights for three investigational dermatological molecules from Pfizer and the related transferred or licensed intellectual properties.
“We are excited about the potential that these molecules present. Their acquisition is evidence of Graceway’s ongoing commitment to the dermatology community by offering innovative medicines aimed at enhancing patient care,” stated Jefferson J. Gregory, Chairman and CEO of Graceway.
Graceway will acquire two molecules that target the treatment of oily skin and acne – an early stage Stearoyl CoA Desaturase 1 (SCD1) Inhibitor and a Cholesterol-Acyltransferase (ACAT) Inhibitor, currently in Phase 2 of development. This ACAT Inhibitor offers a new mechanism of action to address these common conditions and is understood to work by reducing skin surface sebum production.
In addition, Graceway will acquire an Activin-Like Kinase 5 (ALK-5) Inhibitor, currently in early pre-clinical development. The ALK-5 Inhibitor is a promising agent for the reduction of surgical and traumatic scar formation.
Concurrent with the Acquisition and License Agreement, the parties also executed a Master Services and Supply Agreement under which Pfizer has agreed to perform developmental and clinical services for these three molecules. Terms of the transaction were not disclosed.
“We are extremely pleased about this agreement with Graceway as part of Pfizer’s plan to out license R&D programs that are no longer core to its strategy but could become important medicines for patients,” said David K. Rosen, Head of Out Licensing for Pfizer. “This agreement is yet another testament to Pfizer’s commitment to create value for patients, physicians and shareholders.”