American pharmaceuticals giant Pfizer has invested $87.5m in a minority stake in Dutch biotech firm AM Pharma, the two companies announced on Tuesday.
AM Pharma, based in Bunnik, is developing a medicine to combat acute kidney injury and is due to publish the results of its research into the drug, named recAP, next year. There is currently no drug to treat the condition which is suffered by some two million people in the western world, AM Pharma says.
If the results are promising, Pfizer will then take over the entire company for up to $512.5m, the agreement signed between the two companies states.
Dutch biotech companies are currently in demand. In November, Biomarin took over Leiden company Prosensa for $680m and Galapagos, which is Dutch Belgian, is also being stalked.
AM Pharma is carrying out Phase II trials of its drug on 50 volunteers, and once that has been completed successfully will move onto Phase III trials which are used to assess whether medicines can be approved.
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