Pfizer considers Icagen options

Pfizer is considering a "strategic transaction" with Icagen, a US biotechnology company, in which it holds a 14 per cent stake in.

In a regulatory filing, Pfizer said Icagen representatives and Pfizer employees have engaged in preliminary discussions, and that Icagen had provided access to due diligence materials.

Pfizer said the continuing talks could lead to an extension or amendment of their longstanding agreement, including a change in its control "by means of a stock or asset acquisition or merger."

Icagen acknowledged that it is engaged in preliminary discussions with Pfizer, however, said there can be no assurance any agreement will be reached.

In 2007 Pfizer forged a research and licensing deal with Icagen, relating to medicines to treat pain and related disorders.