And another piece of Pfizer is staying in Ann Arbor. This time one of it executives
announced it is buying back a research-and-development section from the drug
maker with the help of a lot of venture capital.Excerpt:
Pfizer may be leaving Ann Arbor but more and more of its pieces are sticking
around Tree Town. The latest defection is Esperion
Therapeutics, which is being bought back by its co-founder and reestablished as
an Ann Arbor-based business.
Dr. Roger Newton, the former CEO of Esperion and a senior vice
president at Pfizer, has rounded up $22.75 million in venture capital from Aisling Capital, Alta Partners, Domain Associates and Arboretum Ventures, allowing Pfizer to
retain a financial interest in the enterprise. The biopharmaceutical company
will focus on the discovery and development of compounds to treat
cardiovascular and metabolic disease.
Read the rest of the story here.
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