Monday, August 2, 2010

Conatus Pharmaceuticals Buys Idun Pharmaceuticals

San Diego-based Conatus Pharmaceuticals said Friday that it has acquired the Idun Pharmaceuticals subsidiary of Pfizer. Financial terms of the buy were not disclosed. According to Conatus Pharmaceuticals, it is focused on developing drugs for the liver disease and oncology market, and is led by the former management of Idun Pharmaceuticals. Idun has been acquired by Pfizer in 2005. The firm said it plans to continue working on developing treatments for liver disease and oncology. Conatus' lead compound is a drug for treating the hepatitis C virus. The company is headed by Steven J. Mento, Ph.D., who also was CEO of Idun Pharmaceuticals when it was acquired by Pfizer in 2005.

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