Newly Formed Durata Therapeutics Acquires Pfizer’s Vicuron Subsidiary

NEW YORK--()--Durata Therapeutics, Inc. announced today that it has acquired Vicuron Pharmaceuticals from Pfizer (PFE). Durata is a newly formed biopharmaceutical company that was created by a five-member venture capital syndicate to pursue late-stage clinical development of novel antibiotic programs. The acquisition was funded through a stock purchase by New Leaf Venture Partners, LLC, Domain Associates, LLC, Aisling Capital, Sofinnova Ventures Inc. and Canaan Partners. Durata is focused primarily on Vicuron’s antibiotic drug candidate, dalbavancin. Durata’s product portfolio also includes two preclinical antibiotic programs. Pfizer will retain the marketed anti-fungal agent, EraxisTM (anidulafungin), which was formerly owned by Vicuron.

Dalbavancin is a long-acting, injectable, lipoglycopeptide antibiotic in late-stage clinical development. The product candidate has generated Phase 3 results in acute bacterial infections of the skin and skin structures and has demonstrated the potential to offer a unique antibiotic product profile. Specifically, dalbavancin has pharmacokinetic properties that enable convenient once-a-week dosing, and it offers potent activity against Gram-positive bacteria, including methicillin-resistant Staphylococcus aureus (MRSA).

Ron Hunt, Managing Director at New Leaf Venture Partners (NLV Partners), commented, “The venture investors have worked together closely to put dalbavancin into a well-funded company that will be laser-focused on completing its development and making it available to physicians and patients. Durata is a unique opportunity for us, where we can pair the appropriate financial resources and a talented team in an exciting new company that has the potential to take this drug all the way through approval.”

Members of the Durata Board will be as follows:

  • Nicole Vitullo, Partner at Domain Associates, LLC
  • Ron Hunt, Managing Director at NLV Partners
  • Dov A. Goldstein, M.D., Partner at Aisling Capital and former Executive Vice President and CFO of Vicuron
  • James Healy, M.D., Ph.D., General Partner at Sofinnova Ventures
  • Brent Ahrens, General Partner at Canaan Partners
  • George Horner, an Executive Partner at Sofinnova Ventures and former CEO of Vicuron, will serve as an independent director on the Board.

Additional details about Durata Therapeutics will be announced in the future.

More information on the venture capital groups funding Durata can be found as follows:

New Leaf Venture Partners, LLC (http://www.nlvpartners.com/)

Domain Associates, LLC (http://www.domainvc.com/)

Aisling Capital (http://www.aislingcapital.com/)

Sofinnova Ventures (http://www.sofinnova.com/)

Canaan Partners (http://www.canaan.com/)

Contacts

Burns McClellan on behalf of the venture capital syndicate
Justin Jackson, 212-213-0006
jjackson@burnsmc.com

Contacts

Burns McClellan on behalf of the venture capital syndicate
Justin Jackson, 212-213-0006
jjackson@burnsmc.com