Deals
Pfizer-Backed Ziarco Said to Mull Sale of U.K. Biotech Firm
- Sale could fetch over $1 billion, attract other drug firms
- Ziarco is working with advisers at Rothschild on sale process
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Ziarco Pharma Ltd., a U.K. biotechnology company whose investors include Pfizer Inc.’s venture capital arm, is exploring a sale after its experimental dermatology treatments attracted interest from potential buyers, according to people with knowledge of the matter.
Ziarco is working with financial advisory firm Rothschild & Co. on the process, which may start as soon as the coming weeks and lure other drugmakers, the people said, asking not to be identified because the deliberations are private. The sale could fetch more than $1 billion, with part of that coming from an upfront payment and the rest through royalties and after the company achieves certain targets, one of the people said.