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NEW YORK — Pfizer completed its acquisition of a drug maker that focuses on the development of skin scarring treatments.
Pfizer said its acquisition of Excaliard Pharmaceuticals will allow the company to develop "new and innovative treatments to address unmet medical needs," noting that there currently is no excessive skin scarring treatment approved by the Food and Drug Administration.
Financial terms of the deal, which was announced last month, were not disclosed; however, Pfizer said it provided Excaliard’s shareholders — which include Isis Pharmaceuticals, Alta Partners, ProQuest Investments and RiverVest Venture Partners — an upfront payment and will make contingent payments if certain milestones are achieved in the future.