Pfizer Inc. and Excaliard Pharmaceuticals Inc. Nov. 22 announced that they have entered into a definitive agreement under which Pfizer will acquire Excaliard.
Excaliard is a privately owned biopharmaceutical company based in San Diego that is focused on developing novel drugs for the treatment of skin fibrosis (skin scarring). The companies said the acquisition is expected to close before the end of 2011.
Pfizer said it will provide to Excaliard an upfront payment and contingent payments if certain milestones are achieved. Specific financial terms are confidential, the company said.
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