Pfizer Near Agreement To Buy Angiosyn For Up To $527M

Pfizer Inc. is close to an agreement to buy Angiosyn Inc., a La Jolla, Calif.,
biotech start-up working on a drug to ward off blindness, in a deal potentially
valued at $527 million, according to people familiar with the situation.
Angiosyn was funded in May 2003 by Alta Partners, which put less than $10
million into it. People close to the situation say the first payment from Pfizer
is in the "double digit" millions.