Pfizer Inc to expand neuroscience research with purchase of Rinat
Pfizer in the US plans to acquire Rinat Neuroscience Corp, a privately-held biotech company in San Francisco which develops therapeutic proteins for the treatment of diseases and disorders of the central nervous system.
Pfizer in the US plans to acquire Rinat Neuroscience Corp, a privately-held biotech company in San Francisco which develops therapeutic proteins for the treatment of diseases and disorders of the central nervous system.
Rinat was founded in 2001 when Genentech Inc granted it broad licenses to key neuroscience assets. The most advanced new drug candidate in its pipeline is RN624, a potential treatment for acute and chronic pain that is currently entering Phase II clinical trials. Rinat is also developing RN1219 for the potential treatment of Alzheimer's disease.
Pfizer has a strong presence in neuroscience through its portfolio of medicines for treatment of conditions including neuropathic pain, migraine, depression, anxiety, multiple sclerosis and Alzheimer's disease. In recent years, it has invested in building a substantial research presence in biologics.
"More than one billion people around the world suffer from neurological conditions and diseases, and finding new, more effective treatments for patients is a high priority for Pfizer research and development," said John LaMattina, president, global r&d for Pfizer.
"Rinat is a pioneer in developing protein-based therapeutics and we see tremendous potential in its research to develop new medicines, notably for the treatment of Alzheimer's disease," he added.
The financial terms of the purchase have not been disclosed.