Graceway Pharmaceuticals, LLC, a portfolio company of GTCR Golder
Rauner, LLC, and Pfizer Inc. (NYSE: PFE) today announced that
they have entered into an Acquisition and License Agreement by which
Graceway will acquire the worldwide commercial rights for three
investigational dermatological molecules from Pfizer and the related
transferred or licensed intellectual properties.
“We are excited about the potential that these molecules present. Their
acquisition is evidence of Graceway’s ongoing commitment to the
dermatology community by offering innovative medicines aimed at
enhancing patient care,” stated Jefferson J. Gregory, Chairman and CEO
of Graceway.
Graceway will acquire two molecules that target the treatment of oily
skin and acne – an early stage Stearoyl CoA Desaturase 1 (SCD1)
Inhibitor and a Cholesterol-Acyltransferase (ACAT) Inhibitor, currently
in Phase 2 of development. This ACAT Inhibitor offers a new mechanism of
action to address these common conditions and is understood to work by
reducing skin surface sebum production. In addition, Graceway will
acquire an Activin-Like Kinase 5 (ALK-5) Inhibitor, currently in early
pre-clinical development. The ALK-5 Inhibitor is a promising agent for
the reduction of surgical and traumatic scar formation.
Concurrent with the Acquisition and License Agreement, the parties also
executed a Master Services and Supply Agreement under which Pfizer has
agreed to perform developmental and clinical services for these three
molecules. Terms of the transaction were not disclosed.
“We are extremely pleased about this agreement with Graceway as part of
Pfizer’s plan to out license R&D programs that are no longer core to its
strategy but could become important medicines for patients,” said David
K. Rosen, Head of Out Licensing for Pfizer. “This agreement is yet
another testament to Pfizer’s commitment to create value for patients,
physicians and shareholders.”
Pfizer was advised by Burrill LLC.
About Graceway Pharmaceuticals, LLC
Graceway Pharmaceuticals, LLC ("Graceway"), headquartered in Bristol,
TN, is a pharmaceutical company focused on acquiring, in-licensing, and
developing branded prescription pharmaceutical products. Current
prescription products marketed by Graceway include ALDARA® (imiquimod)
Cream, 5%, Maxair® Autohaler® (pirbuterol acetate inhalation aerosol),
Atopiclair® Nonsteroidal Cream, and Estrasorb® (estradiol topical
emulsion). ALDARA®, Maxair®, Autohaler®, Atopiclair®, and Estrasorb® are
trademarks owned by or licensed to Graceway. For more information on
Graceway's products, including important safety information, please
visit www.gracewaypharma.com.
About GTCR Golder Rauner, LLC
Founded in 1980, GTCR Golder Rauner, LLC (“GTCR”) is a leading private
equity investment firm and long-term strategic partner for outstanding
management teams. The Chicago-based firm pioneered the investment
strategy of identifying and partnering with exceptional executive to
acquire and build companies through a combination of acquisitions and
strong internal growth. GTCR currently manages more than $8 billion of
equity capital invested in a wide range of companies and industries.
More information about GTCR may be found at www.gtcr.com.
Pfizer Inc: Working together for a healthier world™
Founded in 1849, Pfizer is the world’s premier biopharmaceutical company
taking new approaches to better health. We discover, develop,
manufacture and deliver quality, safe and effective prescription
medicines to treat and help prevent disease for both people and animals.
We also partner with healthcare providers, governments and local
communities around the world to expand access to our medicines and to
provide better quality health care and health system support. At Pfizer,
more than 80,000 colleagues in more than 90 countries work every day to
help people stay happier and healthier longer and to reduce the human
and economic burden of disease worldwide.
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Pfizer Inc.
Samantha Cummis, 212-733-6924
or
Graceway
Pharmaceuticals, LLC
John Bellamy, 423-274-2100
Executive
Vice President & General Counsel
