ARTICLE | Finance

VCs take over dalbavancin

January 4, 2010 8:00 AM UTC

Four years and three complete response letters after dalbavancin was brought into Pfizer Inc. (NYSE:PFE) as part of the pharma's $1.9 billion acquisition of Vicuron Pharmaceuticals Inc., a group of VCs have spun the asset back out with plans to do the clinical work needed for regulatory approval. Newco Durata Therapeutics Inc. plans to begin a Phase III trial of the once-weekly injectable antibiotic in 2H10.

The syndicate could reprise its successful role in bankrolling Cerexa Inc., which spun out just as Peninsula Pharmaceuticals Inc., was being acquired by Johnson & Johnson (NYSE:JNJ) in 2005. Starting with $50 million in initial funding, Cerexa ran a Phase II trial of ceftaroline, a fifth-generation cephalosporin, and was sold to Forest Laboratories Inc. (NYSE:FRX) a year later for just under $500 million (see BioCentury, Dec. 16, 2006)...