Pfizer Acquires Icagen

Pfizer will acquire Icagen, Inc., one of its development and commercialization partners. The acquisition will cost $56 million for the 89% of Icagen shares that Pfizer does not currently own.

In 2007, Pfizer and Icagen entered into a discovery and commercialization collaboration for the development of treatments for pain and related disorders utilizing sodium ion channels, which have the potential for fewer side effects.

“We’re excited that Icagen, a global leader in pain research, will join Pfizer, further strengthening our innovative core,” said Ruth McKernan, senior vice president, Pfizer’s Pain & Sensory Disorders and Regenerative Medicine unit, known as Neusentis. “Icagen’s capabilities and core ion channel technology will help to further expand Pfizer’s position in the pain relief disease area and our ability to develop potential first-in-industry drugs for the treatment of pain and related disorders.”

“By joining forces in a more integrated manner, we believe that our joint efforts towards the identification and development of novel pharmaceuticals targeting specific ion channels will be significantly enhanced,” said P. Kay Wagoner, Ph.D., chief executive officer of Icagen.