Pfizer has finalised its acquisition of Arena Pharmaceuticals, a clinical stage company that develops innovative potential therapies to treat a variety of immuno-inflammatory diseases.
The acquisition will bolster Pfizer’s portfolio of therapy candidates in dermatology, gastroenterology and cardiology. This includes etrasimod, currently in development for a range of immuno-inflammatory diseases including Crohn’s Disease, ulcerative colitis, eosinophilic esophagitis, alopecia areata and atopic dermatitis.
Previously, Arena has indicated that it anticipated the results of the phase 3 ELEVATE-UC study of etrasimod in ulcerative colitis during the first quarter of 2022.
Arena brings with it two development-stage cardiovascular assets – temanogrel for Raynaud’s phenomenon secondary to systemic sclerosis and microvascular obstruction, and APD418 for acute heart failure.
“We are excited to add the impressive experience and pipeline of Arena Pharmaceuticals to Pfizer’s Inflammation and Immunology therapeutic area, helping us further our purpose of developing breakthroughs to change the lives of those with immuno-inflammatory diseases,” said Mike Gladstone, global president & general manager, Pfizer Inflammation and Immunology.
He added: “In particular, we’re hopeful that we can accelerate clinical development of etrasimod successfully to have a positive impact on those living with these debilitating diseases.”
The deal has an estimated total value of $6.7bn and Arena will now be a wholly-owned subsidiary of Pfizer as a result of the acquisition.
Speaking in December 2021, Amit Munshi, president and chief executive officer of Arena, said: “Pfizer’s capabilities will accelerate our mission to deliver our important medicines to patients. We believe this transaction represents the best next step for both patients and shareholders.”