Esperion gets second shot as an independent drugmaker

Mon, 05 May 2008 06:59:55 -0400

After getting squashed in Pfizer's restructuring crunch, Esperion Therapeutics is reopening this week. The company, which specializes in cardiovascular and metabolic disease work, is hiring about 10 researchers from Pfizer and Esperion. Esperion was shut down last year during Pfizer's restructuring, a move that affected about 60 people working for the company, which was acquired in 2003. Aisling Capital, Alta Partners and Domain Partners are providing more than $22 million to re-start the venture, with Pfizer holding on to a stake.

Michigan officials count the reopening as a hopeful bright spot following Pfizer's decision to shutter its Ann Arbor R&D facility, which employed 2,100 people. CEO Roger Newton was cautious about describing the developer's plans, but says he expects to do some more hiring. He also told Crain's Detroit Business that Esperion has gained "control of a series of compounds and will pursue development of a small molecule that inhibits the creation of fatty acid and cholesterol synthesis."

- read the article from the Detroit News
- check out this report for more