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Financial terms of the transaction were not disclosed.
Graceway will acquire two molecules that target the treatment of oily skin and acne. These are an early stage Stearoyl CoA Desaturase 1 (SCD1) Inhibitor and a Cholesterol-Acyltransferase (ACAT) Inhibitor, currently in Phase 2 of development. The company will also acquire an Activin-Like Kinase 5 (ALK-5) Inhibitor, currently in early pre-clinical development.
The parties will concurrently sign a master services and supply agreement whereby Pfizer will perform developmental and clinical services for these three molecules.
Graceway is a portfolio company of Pfizer Inc and GTCR Golder Rauner LLC, a private equity investment firm.
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