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NEW YORK — Icagen officially is a wholly owned subsidiary of Pfizer.
As part of the transaction, which first was announced in July, Icagen now will be part of Pfizer’s worldwide research and development organization and also will be integrated into Neusentis, Pfizer’s pain, sensory disorders and regenerative medicine research unit.
The aggregate transaction value, which includes the value of the shares that already were owned by Pfizer, was about $56 million.
“We’re excited that Icagen, a global leader in pain research, has now joined Pfizer,” said Ruth McKernan, Pfizer SVP and chief scientific officer of Neusentis. “We have worked closely with Icagen for several years and have the utmost respect for their expertise. Their understanding of ion channel mechanisms will enhance our ability to develop novel drugs for the treatment of pain and related disorders.”