Pfizer Acquires Spin-off from Redbiotec

Please login or
register
05.01.2015

Pfizer Inc. today announced that it has acquired a controlling interest in Redvax GmbH, a spin-off from Redbiotec AG, a privately held Swiss biopharmaceutical company, based in Zurich-Schlieren. This transaction provides access to a preclinical human cytomegalovirus (CMV) vaccine candidate, as well as intellectual property and a technology platform related to a second, undisclosed vaccine program.

The CMV vaccine program will complement Pfizer’s robust research portfolio of high-quality and life-saving investigational vaccines and place Pfizer among the leaders in CMV research and development. CMV is a herpes virus, infecting 50-90% of the adult population, with a majority remaining asymptomatic. A large segment of young adults, especially women of childbearing age who remain CMV negative, are at high risk of CMV infection during pregnancy and of passing the infection on to the unborn child (congenital infection). There are potentially serious and lifelong consequences for babies born with the disease. One out of every five children born with CMV infection may experience hearing loss and severe neurologic disorders. More children have disabilities due to congenital CMV than other well-known infections and syndromes, including Down syndrome, fetal alcohol syndrome, spina bifida, and pediatric HIV/AIDS.

“We are working to bring innovative vaccines to market that prevent and treat serious diseases,” said Kathrin U. Jansen, Ph.D., senior vice president & CSO Vaccine Research & Early Development for Pfizer. “Through the acquisition of the Redvax innovative CMV vaccine platform and expertise we will seek to develop a vaccine to prevent a difficult disease that can have a devastating and lifelong impact on young children.”

The U.S. Centers for Disease Control and Prevention (CDC) estimate that, in the U.S., approximately 5,000 children each year develop lasting health problems caused by CMV such as hearing or vision loss, and mental disability. The Institute of Medicine (IOM) has ranked the development of a CMV vaccine as a highest priority because of the lives it would save and the disabilities it would prevent. The estimated costs associated with CMV disease for the U.S. health care system amounts to at least $1.86 billion annually. CMV expenses can run more than $300,000 per child.

Christian Schaub, CEO of Redbiotec and Managing Director of Redvax commented, “We are pleased to have completed this deal with Pfizer, a global leader in vaccines. This represents an important step toward the development of a much needed vaccine for CMV, a disease that has a devastating impact on children and families. We believe that combining Redvax’s assets with Pfizer’s commitment, expertise and resources will significantly enhance the potential of developing this important vaccine.”

The transaction marks one of the most significant exits for the Redalpine Capital I fund to date. Michael Sidler, Partner at Redalpine Venture Partners, emphasizes: “The fact that Pfizer, one of the world’s top pharma companies has acquired Redbiotec’s CMV technology is an impressive validation of this cutting-edge development platform. As the lead investor in Redbiotec, we are as excited about this transaction as we are about the potential of the platform for other life-saving vaccines.”

Redbiotec will keep its core technology and IP for all further applications. Redbiotec’s platform for the efficient generation of virus-like particles (VLP) is one of the leading technologies to facilitate disruption in the vaccine industry. After spinning off Redvax, Redbiotec continues to use its VLP platform for the development of further viral vaccines. Redbiotec’s technology promises significant advantages over traditional vaccine development processes; it is designed to make vaccines safer and development quicker and more cost-efficient than currently possible.

 

About Redvax GmbH
Redvax is a spin-off from Redbiotec AG, a privately held Swiss biopharmaceutical company, based in Zurich-Schlieren. Redvax is a preclinical stage company. The company develops multi-component virus-like particles (VLPs) and other protein assemblies for vaccine development in the field of CMV and a further undisclosed field.

0Comments

More news about

Redbiotec AG

Company profiles on startup.ch

Redbiotec AG

rss