ARTICLE | Company News

Pfizer acquires gene therapy company Bamboo

August 1, 2016 7:00 AM UTC

Pfizer Inc. (NYSE:PFE) acquired the 78% of Bamboo Therapeutics Inc. (Chapel Hill, N.C.) it did not already own for $150 million up front and $495 million in milestones. In 1Q16, the pharma obtained a 22% stake in Bamboo for about $43 million.

Bamboo develops adeno-associated viral vector (AAV)-based gene therapies that preferentially target tissues affected by CNS and neuromuscular disorders. The company spun out of gene therapy company Asklepios BioPharmaceutical Inc. (Chapel Hill, N.C.) in 2015 with an initial focus on BMB-D001, a systemic gene therapy for Duchenne muscular dystrophy (DMD) that is due to enter a Phase I trial this half. ...