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Published on 19 November 2007

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Pfizer set to buy rival for $164m

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Drug giant Pfizer has agreed to acquire the Coley Pharmaceutical Group for $164m.

Coley specialises in vaccine technology and a new class of immunomodulatory drug candidates designed to fight cancers, allergy and asthma disorders, and autoimmune diseases.

The group is currently pioneering a new class of drug candidates called TLR Therapeutics, which work by stimulating or blocking important immune system receptors called Toll-like receptors (TLRs).

Coley president Robert Bratzler said: “As a pioneer in the field of
TLR-based vaccine adjuvants and immunomodulators, Coley is delighted to enter into this agreement with Pfizer, a partner who has demonstrated that they share our vision.

“We believe this transaction is a strong testament to the therapeutic potential of targeting TLR pathways, and reflects Pfizer’s commitment to discovering and advancing TLR Therapeutic candidates that may be capable of directing the immune system to treat a wide range of diseases.”

Pfizer chairman and CEO Jeffrey Kindler added: “This acquisition is an important component of Pfizer’s vaccine strategy, and reflects our commitment to research new and more effective vaccines to prevent infectious diseases, and to treat cancers and other debilitating conditions.

“Coley’s innovative product candidate portfolio and technology have the potential to significantly enhance future vaccine and immunotherapeutic approaches to a broad range of diseases including Alzheimer’s, asthma, infectious disease and oncology, where we already have strong collaborative research in place.”

Copyright © PA Business 2007

Pfizer



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