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The Associated Press July 30, 2010, 5:00PM ET

Conatus acquires Pfizer subsidiary Idun

Privately held Conatus Pharmaceuticals Inc. said Friday it has acquired Pfizer Inc. subsidiary Idun Pharmaceuticals for an undisclosed sum.

The deal helps Conatus continue its work in liver disease and "expands our therapeutic reach into oncology," Conatus CEO Steven J. Mento said in a statement from the company.

Mento is a former CEO of Idun, which was acquired by Pfizer in 2005. Conatus was founded by Idun executives after that company was sold to Pfizer.

Conatus, based in San Diego, is a drug developer focused on both liver disease and oncology. Its lead candidate is a potential hepatitis C virus treatment currently undergoing several mid-stage trials.

Shares of Pfizer, the world's largest drugmaker, closed down 9 cents at $15 on Friday.

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