Arix Bioscience PLC (LON:ARIX) said one of its portfolio companies, Amplyx Pharmaceuticals, is to be acquired by US pharma giant Pfizer Inc (NYSE:PFE) in a deal it said will result in a small increase to its holding in the firm.
Amplyx, which develops therapies for debilitating and life-threatening diseases that affect people with compromised immune systems. The company’s lead drug compound, Fosmanogepix (APX001), is under development for the treatment of invasive fungal infections.
In its own announcement, Pfizer said Amplyx will be acquired following an initial investment by the corporation in December 2019 as part of a funding round. However, the financial terms of the acquisition have not been disclosed.
“The [coronavirus] pandemic has been a stark reminder of the devastating impact of infectious diseases, highlighting the continuous need for new anti-infective therapies to treat both emerging and difficult to treat bacterial, viral and fungal infections”, said Angela Lukin, global president of Pfizer’s hospital business.
“We are deeply committed to helping patients suffering from infectious diseases, continuously seeking opportunities to build our portfolio of anti-infective therapies. We’ve already invested in assets that, if approved, could help address drug-resistant bacterial infections and critical viral infections; with this acquisition, we look forward to progressing the development of a novel anti-fungal as well”, she added
In addition to Fosmanogepix, which is currently in Phase 2 clinical trials, Pfizer said it has also secured ownership of Amplyx’s early-stage pipeline that includes potential antiviral (MAU868) and antifungal (APX2039) therapies.
Shares in Arix were up 0.2% at 190.4p in late afternoon trading in London on Wednesday. Meanwhile, Pfizer shares rose 0.7% to US$38.72 in early morning trading in New York.