A biopharmaceutical firm co-founded by a former Durham University lecturer has been acquired by drugs giant Pfizer in a £412m ($525m) deal.
ReViral, which has run a research facility at Sedgefield's NETPark since 2016, will strengthen Pfizer's infectious diseases capabilities and will benefit from the multi-national's commercialisation expertise.
The deal includes an upfront payment as well as amounts at significant milestones in ReViral's work to develop antiviral therapeutics that targets a common disease affecting the lungs and breathing passages.
