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Covington Advises Pfizer in Acquisition of BioRexis

February 1, 2007

NEW YORK, NY, February 1, 2007 — Covington & Burling LLP advised Pfizer in the acquisition of BioRexis, a privately held biopharmaceutical company. The transaction is expected to close in the first or second quarter of 2007. The financial terms of the transaction were not disclosed.

BioRexis is developing long-acting GLP-1 receptor agonists for the potential treatment of patients with type 2 diabetes. Early studies with these compounds support their potential to advance new treatment options for the disease.

The Covington corporate team included partner Scott Smith and associates Andrew Muratore, Michelle Garcia, and Michael Tzartzouras. The New York and Washington based team included Corinne Goldstein (environmental), Scott Cunningham (FDA), Michael Francese and Kendra Roberson (benefits), Robert Heller (tax), and Natalie Derzko (intellectual property).

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