Pfizer will buy Excaliard, a privately owned biopharmaceutical company focused on developing novel drugs for the treatment of skin fibrosis.

Pfizer The firms announced today that they have entered into a definitive agreement for the acquisition deal, which is expected to close before the end of the year. The financial details were not disclosed.  
The deal will give Pfizer the access to Excaliard’s lead development product, EXC 001, an antisense oligonucleotide in phase 2 clinical study. In return, investor of Excaliard will receive an upfront payment and related milestone payments. Isis Pharmaceuticals, which co-developed EXC 001 with Excaliard will also get up to $14 million from Pfizer for its stake in Excaliard.
The investigation drug EXC 001  works through interruption of  the fibrosis process  by inhibiting expression of connective tissue growth factor (CTGF), a growth factor that can be over expressed in damaged skin or tissue following surgery or traumatic injury and lead to disfiguring skin scarring.
 Pfizer said the company plans to continue development of EXC 001 to address unmet medical needs in patient groups who suffer from excessive skin scarring. Currently, there are no FDA-approved products to reduce scar severity.”The science behind Excaliard’s lead compound aligns well with our R&D focus on new treatments for fibrosis and tissue remodeling,” Pfizer said.