Pfizer acquiring Serenex

Pfizer (NYSE:PFE) will acquire Serenex (Durham, N.C.) for an undisclosed amount. The acquisition gives Pfizer SNX-5422, an oral heat shock protein 90 (Hsp90) inhibitor in Phase I to treat solid tumors and hematological malignancies, as well as Serenex's Hsp90 inhibitor compound library and its proteome-mining platform, which is used to identify purine-binding proteins. Lehman advised Serenex on the deal, which is expected to close next quarter. ...