Dutch biotech gets $87.5m advance on $600m ticket to Pfizer
This article was originally published in Scrip
Executive Summary
The future of AM Pharma is now largely in the hands of clinical and business decision-makers at Big Pharma. The Dutch biotech announced late on 11 May that Pfizer had spent $87.5m on an option to acquire the company for $600m. The option matures when the Phase II clinical trial in Acute Kidney Injury (AKI) of AM Pharma's lead product, recombinant alkaline phosphatase (recAP) is complete, sometime after the end of 2016. The option fee will go straight to shareholders, CEO Erik van den Berg told Scrip.