Pfizer buys Coley for $164M

In what is sure to be one of many acquisitions to come, Pfizer has agreed to purchase Wellesley, MA-based Coley Pharmaceuticals for $8 per share, bringing the total deal to $164 million. Pfizer will gain access to Coley's vaccine adjuvant technology. Coley also has a new class of immunomodulatory drug candidates--TLR Therapeutics--which work by stimulating or blocking important immune system receptors.

"This acquisition is an important component of Pfizer's vaccine strategy and reflects our commitment to research new and more effective vaccines to prevent infectious diseases and to treat cancers and other debilitating conditions. Coley's innovative product candidate portfolio and technology have the potential to significantly enhance future vaccine and immunotherapeutic approaches to a broad range of diseases..." said Jeffrey B. Kindler, chairman and CEO of Pfizer.

- see Pfizer's release for more