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Covington Advises Pfizer in Completion of Coley Pharmaceutical Tender Offer


NEW YORK, NY, January 2, 2008 — Pfizer announced on December 31 that it has completed the cash tender offer for the outstanding shares of common stock of Coley Pharmaceutical Group, Inc., a publicly-held biopharmaceutical company specializing in vaccine adjuvant technology and a new class of immunomodulatory drug candidates designed to fight cancers, allergy and asthma disorders, and autoimmune diseases. Covington & Burling LLP advised Pfizer in the $164 million transaction.

Pfizer, the world’s largest research-based biomedical and pharmaceutical company, discovers and develops innovative medicines to treat and to help prevent disease for both people and animals. Coley is a pioneer in a new class of drug candidates called TLR Therapeutics, which work by stimulating or blocking important immune system receptors, called Toll-like receptors (TLRs), which, in turn, direct the immune system to fight disease. Coley has discovered proprietary clinical stage drug candidates targeting TLRs 7, 8 and 9.

The Covington corporate team included partners Scott Smith and Peter Schwartz, and associates Peter Bogdanow, Michelle Garcia* and Meenakshi Roy*. All are resident in the firm’s New York office. Also involved in the deal were Washington-based Lee Tiedrich and Kathleen Gallagher-Duff (IP), Kendra Roberson and Mike Francese (benefits), Scott Cunningham (regulatory), and Corinne Goldstein (environmental), and San Francisco-based Jim Snipes and Chelsea Tanaka-Delgado (licensing; collaboration agreement).

*Not yet admitted to practice.

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