Martin Mackay

Pfizer drops heart research in R&D revamp

John Carroll — Tue, 30 Sep 2008 12:15:14 -0400

Pfizer is revamping its R&D efforts and abandoning its early-stage work in heart disease. The pharma giant announced today that it is dropping research projects in obesity and bone density, but will look for partners to carry on the work.

Citing an internal memo, Forbes reports that Pfizer will stop work in anemia; bone diseases like osteoporosis; liver disease; muscle disease; obesity; the biological causes of arthritis; and peripheral artery disease, or blood clots in the leg. "We still see the programs that we're stopping as having value," said Martin Mackay, Pfizer's head of research and development. "They're just not as valuable as other programs, like Alzheimer's or oncology."

Overall, the company's pipeline now includes 114 programs from Phase I through Registration. Twenty-five of those programs are in Phase III development. And Pfizer again stressed its commitment to developing biologics, saying that the company is vigorously driving its biotechnology investments and has 16 biotherapeutics in development. It also has seven other cancer programs in Phase III. The new R&D focus will include such disease areas as oncology, pain, inflammation, diabetes, Alzheimer's disease and schizophrenia.

The change is reportedly being made without any plans to cut research jobs. Mackay said some workers may be displaced by the changes but that they would find opportunities elsewhere in the company. And Pfizer says it will continue to pursue late-stage programs, including an anti-clotting drug it is working on with Bristol-Myers. The shift will away from heart, obesity and bone drugs won't apply to any drugs that may be launched in the next three years.

- see Pfizer's release
- check out the report from Forbes
- read the story from the Wall Street Journal

Pfizer spins off Esperion as VCs ante up $22.75M

Thu, 01 May 2008 06:59:58 -0400

Pfizer has spun of Esperion Therapeutics into a new biotech company aiming to develop new therapies for cardiovascular and metabolic disease. A syndicate of investors funded the deal. Pfizer sold its interests in the former subdivision to Esperion, which raised $22.75 million from venture funds to finance its operations. Financial details on the spin-off were not disclosed. Pfizer retains an interest in the company.

"Pfizer's contribution to the formation of the new Esperion shows the Company is embracing new strategies to refocus its R&D and create value from exited compounds," said Martin Mackay, president of Pfizer Global Research & Development. "This transaction also enables Esperion to pursue its interests as a Michigan-based life science company while allowing Pfizer to support a new research venture and be involved in Esperion's potential success."

Aisling Capital, Alta Partners and Domain Associates co-led the tranched financing for Esperion, with Arboretum Ventures joining in. The new money will allow further development of Esperion's lead program for the treatment of dyslipidemias, as well as other HDL-related therapeutics.

- check out the Pfizer's release

Pfizer hires new R&D chief, launches biotech center

Thu, 04 Oct 2007 06:59:57 -0400

Pfizer is making moves to salvage its troubled pipeline. The company has named Martin Mackay as its new head of global R&D. Previously, Mackay was vice president of R&D and senior vice president of worldwide development. The move surprised some analysts who expected Pfizer to look outside the company for an R&D chief, as it did when it hired Jeffrey Kindler (photo).

Pfizer is also launching a biotherapeutics and bioinnovation center, to be based in California and headed by Dr. Goodman, a co-founder of Exelixis and Renovis. The center will focus on discovering new medicines as well as securing new technologies and research tools. It will work with the academic, biotech and venture communities, not only to focus on delivering new compounds for Pfizer but also on incubating start-ups with new technologies. In addition the the biotech center, Pfizer once again said it would be looking outside the company to beef up its pipeline.

- see Pfizer's release on Mackay and the biotech center
- read the WSJ piece for more

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