Pfizer's PowderMed Purchase Buoys VCs, Vaccines

01 Nov 2006

• By Chris Morrison

Pfizer's October 2006 acquisition of DNA-vaccine specialist PowderMed was the largest ever acquisition of a UK biotech. PowderMed's investors saw a solid return on the deal, which underscored Big Pharma's rush to spread their bets on next-generation large-molecule platforms.

The early October announcement that Pfizer Inc. was to acquire DNA-vaccines firm PowderMed Ltd. no doubt lifted the spirits of the private biotech's backers, and underscored Big Pharma's rush to spread their bets on the next generation of large-molecule platforms. [See Deal]

Although PowderMed executives and investors refused to provide financial details about the transaction—sources directly affiliated with the companies would not...