Date: 2013-03-12
Type of information: Company acquisition
Acquired company: Premacure (Sweden)
Acquiring company: Shire (UK - USA)
Amount: undisclosed
Terms:
- • On March 12, 2013, Shire has announced that it has acquired Premacure , a privately held biotechnology company developing a protein replacement therapy, currently in Phase II development, for the prevention of retinopathy of prematurity (ROP). Shire will purchase Premacure for an upfront payment and certain contingent payments based on the achievement of pre-specified development and commercial milestones. This acquisition allows Shire HGT to enter a new therapeutic area – neonatology – while maintaining its focus on developing novel therapies for the treatment of rare diseases with high unmet medical need.
Premacure has initiated the clinical development of the preventative treatment with mecasermin rinfabate (formulation of recombinant human IGF-1 combined with a recombinant version of its naturally occurring binding protein, insulin-like growth factor-1 binding protein-3 or IFGBP3). A Phase I clinical trial was conducted and results showed that the levels of IGF-1 were increased to within physiological levels and that administration of the investigational protein to preterm infants is generally well tolerated. A Phase II, safety and efficacy multi-centre clinical trial has started in Sweden and is on-going. With the acquisition of Premacure, Shire HGT will continue the ongoing Phase II study, the primary goal of which is to restore the IGF-1 levels in the preterm infant to those found during normal in utero development.
Details:
Related: Rare diseases
Is general: Yes
