Pfizer to Acquire Biotech Firm Idun Pharmaceuticals

Pfizer has inked a deal to acquire Idun Pharmaceuticals, a San Diego-based biopharmaceutical firm that owns more than 150 patents covering drug targets, new chemical entities, drug-screening assays, diagnostics and antibodies.

Idun is primarily focused on the discovery and development of therapies to control apoptosis, a process of cell death that occurs in a broad range of diseases. Idun's lead compound, IDN-6556, a first-in-class pan caspase inhibitor, is in Phase II clinical trials in liver transplantation and in patients infected with the hepatitis C virus (HCV). Caspases are a group of cellular proteases involved in the pathway of apoptosis and inflammation.

Pfizer didn't disclose the financial terms of the deal. The acquisition is expected to close during the second quarter.

Pfizer said Idun recently reported data from a Phase IIa study that showed IDN-6556 given orally was well-tolerated and significantly improved markers of liver damage in patients infected with HCV. IDN-6556 may represent a new class of drugs that protect the liver from inflammation and cellular damage induced by viral infections and other causes, the company said.

In addition to IDN-6556, Idun has a robust preclinical pipeline, including a number of programs in inflammation and oncology.