NEW YORK — Pfizer will acquire a San Diego-based drug maker focused on treatments for skin scarring, the company said Tuesday.
Pfizer said it would buy privately owned Excaliard Pharmaceuticals, whose lead product, EXC 001, is in phase-2 trials for skin scarring, also known as skin fibrosis, a result of surgical procedures. There currently are no Food and Drug Administration-approved treatments to reduce scar severity. Financial terms of the deal were not disclosed.
"The acquisition of Excaliard is part of our corporate research and development strategy to actively complement our robust internal project pipeline with innovative and differentiated drugs from biotech partners," Pfizer president for worldwide research and development Mikael Dolsten said.