Pfizer will acquire Arena Pharmaceuticals to enhance chronic disease management, including accelerating development of etrasimod for patients with immuno-inflammatory diseases.
Pfizer recently entered into a $6.7 billion proposed pharma acquisition deal with Arena Pharmaceuticals to develop therapies for chronic disease management.
Arena Pharmaceutical’s portfolio includes diverse development-stage therapeutic candidates in gastroenterology, dermatology, and cardiology, including oral, selective sphingosine 1-phosphate (S1P) receptor modulator, etrasimod.
Etrasimod is currently in development for various immuno-inflammatory diseases, such as gastrointestinal and dermatological diseases.The proposed acquisition of Arena complements our capabilities and expertise in Inflammation and Immunology,” Mike Gladstone, global president & general manager of Pfizer inflammation and immunology, said in the announcement.
“Utilizing Pfizer’s leading research and global development capabilities, we plan to accelerate the clinical development of etrasimod for patients with immuno-inflammatory diseases,” Gladstone continued.
Arena Pharmaceuticals built a robust development program for etrasimod, including two Phase 3 studies in ulcerative colitis (UC), a Phase 2/3 program in Crohn’s Disease, a planned Phase 3 program in atopic dermatitis, and Phase 2 studies in eosinophilic esophagitis and alopecia areata.
In the OASIS study, researchers evaluated the efficacy and safety of etrasimod in moderate to severe UC patients over 12 weeks versus placebo.
In the study, most patients who achieved clinical response, clinical remission, or endoscopic improvement at week 12 saw sustained or improved effects up to week 46 with etrasimod two milligrams in the open-label extension.
Etrasimod also demonstrated favorable safety findings in the double-blind portion of OASIS.
Additionally, Arena Pharmaceutical’s pipeline includes two development-stage cardiovascular assets, temanogrel and APD418.
Temanogrel is currently in Phase 2 development to treat microvascular obstruction and Raynaud’s phenomenon secondary to systemic sclerosis. APD418 is currently in Phase 2 for acute heart failure.
Under the terms of the acquisition, Pfizer will acquire all of the outstanding shares of Arena Pharmaceutical’s common stock for $100 per share in cash. The transaction is subject to customary closing conditions.
“Pfizer’s capabilities will accelerate our mission to deliver our important medicines to patients. We believe this transaction represents the best next step for both patients and shareholders,” Amit D. Munshi, president and chief executive officer of Arena Pharmaceuticals, said in the announcement.