Pfizer Inc (New York) agreed to buy closely held FoldRx Pharmaceuticals Inc (Cambridge MA) as it looks to expand into medicines for rare disorders.
Pfizer contacted FoldRx eight weeks ago after one of its researchers saw a scientific poster presented by the company, Richard Labaudiniere, FoldRx's chief executive officer, said. He said the company was founded in 2004 from a technology project developed at the Scripps Research Institute in La Jolla, CA. FoldRx's most advanced drug, tafamidis meglumine, is in the final stages of testing required to obtain regulatory approval in the U.S. to treat transthyretin amyloid polyneuropathy, a fatal disorder of the nervous system that affects about 8,000 people worldwide, Labaudiniere said. The company has filed for approval of the treatment in Europe. FoldRx is also working on drugs in earlier stages of testing for Parkinson's disease, Huntington's disease, cystic fibrosis, and a rare heart condition called transthyretin amyloid cardiomyopathy.
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|Title Annotation:||RESEARCH & TECHNOLOGY|
|Date:||Sep 13, 2010|
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