While the press surrounding Pfizer Inc. 's acquisition of privately held Angiosyn Inc. in mid-January suggested a $527 million blockbuster deal for the tiny California biotech, the immediate financial reality behind the biobucks headlines was slightly more mundane [See Deal].
Angiosyn was formed in May 2003 by the Scripps Research Institute's Paul Schimmel, PhD, with backing from venture firm Alta Partners to develop a novel angiostatic agent for ophthalmologic diseases;...