Thursday, February 24, 2005
Pfizer Acquires Idun Pharmaceuticals
Pfizer announced this morning that it has acquired San Diego-based Idun Pharmaceuticals, a company focused on discovery and development of therapeutics in the area of liver disease, inflammation, and cancer. Terms were not disclosed. Idun is developing therapies based on controlling apoptosis, the cell death process that it is the key to many diseases. The company's lead compound is in Phase II clinical trials in liver transplantation and Hepatitis C. Idun is backed by Aberdare Venture, Arch Venture Partners, BioVeda Capital, GeneChem Therapeutics, Hambrecht & Quist, MPM Capital, Pacific Rim Venturse, Prospect Venture Partners, RBC Capital Partners, Sutter Hill Ventures, Venrock Associates, and Ventana Capital Management. The company last raised a round of funding in June of 2004.