Pfizer To Acquire Serenex To Improve Cancer Treatment Drug Supply

Armen Hareyan's picture

In a move to bolster its cancer treatment drug supply Pfizer said that it has reached a deal with Serenex to buy the pharmaceutical drug company.

Serenex is NC based drug company that owns the rights to a drug that treats cancer tumors and fights cancers of the blood, lymph nodes and bone marrow. The drug, SNX-5422, is currently in phase I trials, the earliest of the three stages of human testing. Pfizer also will acquire Serenex's drug discovery technology.

On February 27, Serenex Announced collaboration with National Cancer Institute to initiate clinical trial with Serenex's proprietary Small Molecule HSP90 Inhibitor, SNX-5422.

"The clinical trial under this CTA is being funded by the NCI and conducted by the NCI intramural program. Serenex and CCR have jointly developed the clinical protocol and Serenex will provide the study drug. This study will evaluate the safety, tolerability and pharmacokinetics of SNX-5422 as well as certain novel efficacy biomarkers. Data from the trial will be submitted by Serenex under its current Investigational New Drug (IND) application."

Pfizer's acquisition deal with Serenex, pending regulatory and other approvals, is expected to close in the second quarter. Financial terms were not released.

"The agreement to acquire Serenex is the latest step in the execution of Pfizer's strategy to expand our commitment to oncology, an area where Pfizer plans to establish a leadership position," Pfizer Chairman and Chief Executive Jeffrey Kindler said in a written statement.

Source: eMaxHealth - where you can read more news about cancer treatment and research.

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