M&As this week: Pfizer, KDB Capital
Pfizer has acquired 50% stake in IGNITE Immunotherapy, an oncolytic virus vaccine design, discovery, and development company.
Pfizer will have two seats on IGNITE’s board of directors and collaborate on the latter’s research programme for discovery of potential novel vaccinia viruses, as part of the transaction.
Furthermore, Pfizer will fund the research and development for three years and have an option to acquire IGNITE upon completion of the initial research programme.
Pfizer aims to strengthen its position in next-generation immuno-oncology field through the acquisition.
Both companies involved are based in the US.
South Korean financial services provider KDB Capital has acquired 6.7% stake in Anygen by purchasing 333,334 shares in the latter.
The target company is also based in South Korea and engaged in peptide synthesis.