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Mergers and Acquisitions

Date: 2012-04-12

Type of information: Company acquisition

Acquired company: Pervasis Therapeutics (USA)

Acquiring company: Shire (UK - USA)

Amount: Shire will provide Pervasis with an upfront payment, plus potential post-closing milestone payments that are dependent on Shire’s achievement of certain clinical development, regulatory and sales targets.

Terms:

Shire has signed an agreement to acquire substantially all the assets of Pervasis Therapeutics.  This acquisition will bring to Shire a new cell-based technology platform (endothelial cell technology) with potential global opportunity, and leverage many existing capabilities—specialized marketing approach, cell-based manufacturing, unique reimbursement, outpatient call point.  It will also  complement its 2011 purchase of Advanced BioHealing, further demonstrating Shire’s commitment to investing in and building out its portfolio of regenerative medicine therapies as the partner of choice for development-stage companies. The closing of the acquisition is subject to ancillary conditions.

Details:

Shire also adds phase 2 product candidate to its Regenerative Medicine business. Pervasis\'s lead program, Vascugel® is an  endothelial cell-based therapy in development for enhancing blood vessel repair and improving hemodialysis access for patients with end-stage renal disease. The product utilizes adult allogeneic endothelial cells embedded into a polymer matrix, and is placed on the outside of the blood vessel at the arteriovenous access site during the surgical intervention to create the access. Vascugel® has received orphan product designation from the FDA and the EMA.

Related:

regenerative medicine

Is general: Yes