Aclaris bags St. Louis biotech for $20M; Pfizer investing $100M in gene therapy work
→ The Pfizer vets at Confluence Life Sciences have agreed to be bought out by Aclaris $ACRS in a deal that comes with $20 million in cash and stock. The biotech’s lead product include CDD-450, a novel MK-2 pathway inhibitor, topical Janus kinase inhibitors, and IL2-inducible T-cell kinase inhibitor programs.
→ Pfizer is pumping $100 million into its operations in Sanford, NC as it expands manufacturing capability for gene therapies. The move will add 40 jobs at the campus. Pfizer bought out Chapel Hill-based Bamboo last year in a $700 million deal as it ramped up its focus on gene therapies.
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