SAN FRANCISCO, July 14 /PRNewswire/ -- Burrill Merchant Banking acted as exclusive financial advisor to Pfizer Inc. on its recently-completed divestment of three investigational compounds for dermatological conditions to Graceway Pharmaceuticals, LLC. Financial terms of the agreement were not disclosed.
The most advanced product is a novel Cholesterol-Aceyltransferase (ACAT) inhibitor currently in Phase 2 development for the treatment of oily skin and acne. An earlier-stage Stearoyl CoA Desaturase 1 (SCD1) Inhibitor targeting the same indication was also included in the transaction, as was an Activin-Like Kinase 5 (ALK-5) inhibitor currently in preclinical development for reducing scarring resulting from surgery or trauma.
Simultaneous with the out-licensing transaction, Pfizer and Graceway executed a Master Services and Supply Agreement under which Pfizer agreed to provide clinical and other development support for the three licensed compounds.
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Burrill Merchant Banking assists life science companies in identifying, negotiating and closing strategic transactions. Service lines include:
About Burrill & Company
Founded in 1994, Burrill & Company is a San Francisco-based global leader in life sciences with activities in Venture Capital, Private Equity, Merchant Banking and Media. The Burrill family of venture capital funds has over $950 million under management and its merchant banking business is one of the industry leaders in life sciences transactions. Burrill is also the creator, sponsor and facilitator of over a dozen leading industry conferences worldwide and publisher of a range of bio-intelligence reports including the monthly Burrill Report, which tracks the progress of the global biotechnology industry and annual "State of the Industry" report the latest of which is Biotech 2009-Life Sciences: Navigating the Sea Change, the 23rd annual report on the industry. The 470-plus page book contains analysis and perspectives on the performance of the industry in 2008 and projections for 2009 and beyond. For more information, visit http://www.burrillandco.com
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