Pfizer, a United States-based pharmaceutical company, has received an exclusive option to acquire gene therapy firm, Vivet Therapeutics.

It was reported yesterday that the deal is valued at around EUR560m.

Pfizer has paid around EUR45m to purchase a 15% equity interest in Vivet Therapeutics, and will pay up to EUR560m that includes an option exercise payment and certain clinical, regulatory, and commercial milestone payments.

Both firms will work on the development of VTX-801, which is Vivet's novel investigational gene therapy for Wilson disease, a rare, chronic, and potentially life-threatening liver disorder of impaired copper transport, which causes serious copper poisoning. The product has received orphan drug designation from the US Food and Drug Administration (FDA) and the European Commission (EC). Pfizer has an option to acquire 100% interest in Vivet, following its delivery of certain data from the Phase I/II clinical trial for VTX-801.