Pfizer Acquires Gene Therapy Company Bamboo for $150 Million

Pfizer Inc. said Aug. 1 that it acquired Bamboo Therapeutics Inc., a biotechnology company developing gene therapies, for $150 million and potential milestone payments in a deal to expand the drug giant’s presence in the experimental field.

Closely held Bamboo is developing treatments for neuromuscular conditions and central nervous system disorders. Pfizer said in a statement that it will take over the company’s treatments in development, which haven’t yet been tested in people, as well as Bamboo’s manufacturing facility. Bamboo’s most advanced drug, for a rare nerve-cell disorder called giant axonal neuropathy, is enrolling patients for its first human trial. ...