Pfizer: takes stake in French gene therapy specialist

(CercleFinance.com) - Pfizer has acquired a 15% stake in Vivet, a french gene therapy firm, and has secured an exclusive option to acquire all its shares, the US drugmaker said on Wednesday.


Under the terms of the deal, Pfizer and Vivet will work together in the development of VTX-801, Vivet's proprietary treatment for Wilson disease, a rare liver disorder that causes serious copper poisoning.

Pfizer will be able to exercise an option to acquire 100% of Vivet following the company's delivery of certain data from the Phase I/II clinical trial for VTX-801.

The US company paid approximately 45 million euros and may pay up to 560 million euros, depending on certain clinical, regulatory, and commercial milestones.

Pfizer also announced today the discontinuation of an ongoing Phase III study with Germany's Merck evaluating the efficacy and safety of avelumab in advanced or metastatic ovarian cancer.

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