Shionogi's diversification continues with $2bn IntraBio buy
Isao Teshirogi, Shionogi's chief executive.
Shionogi has reached a $2 billion agreement to buy Anglo-US biotech IntraBio and its recently approved Aqneursa therapy for two rare genetic disorders.
The Japanese group said the acquisition of IntraBio – which was set up in Oxford, UK, before moving its headquarters to Austin, Texas, at the end of 2023 – will continue its efforts to build in the rare diseases category as it continues to diversify its business beyond its long heritage in anti-infective drugs.
Shionogi's move to take control of Aqneursa (levacetylleucine) comes shortly after the drug became the first therapy to be approved for ataxia-telangiectasia (A-T), a rare, inherited neurodegenerative disorder affecting the nervous system. That added to its 2024 clearance for the neurological manifestations of Niemann-Pick disease type C (NPC).
IntraBio also secured approval in Europe for Aqneursa as a treatment for NPC earlier this year and is currently under review for the A-T indication. Privately held IntraBio does not divulge sales figures for the product, but Shionogi's particulars about the acquisition show that the biotech had net sales of a little under $70 million last year.
"The planned acquisition of IntraBio actively demonstrates Shionogi's solid commitment to building a leading global rare disease business," said Isao Teshirogi, the Japanese drugmaker's chief executive.
"Shionogi has a strong record of delivering innovative medicines for challenging infectious diseases, and we are applying that same focus and determination to rare diseases."
The company's move into the rare disease category went up a gear earlier this year with the acquisition of Tanabe Pharma's Radicava (edaravone) product range, used to treat the neurodegenerative disease amyotrophic lateral sclerosis (ALS), which currently makes around $700 million in annual global sales.
Last year, the company also completed a $1 billion takeover of the pharmaceutical subsidiary of Japan Tobacco, Torii Pharma, which sells medicines for skin disorders, kidney disease, and allergy treatments, to strengthen its presence in the Japanese market and expand its international commercial footprint.
If the IntraBio deal closes, Shionogi would have a pipeline of rare disease therapies with clinical-stage candidates in Pompe disease, Fragile X syndrome, and Jordan's syndrome, as well as additional early-stage rare neurodegenerative disease programmes. It also said adding IntraBio will "deepen our commitment to rare disease communities, expand our capabilities, and strengthen our portfolio as we advance future innovation for patients with significant unmet needs."
The acquisition is scheduled to be completed between November and December, according to Shionogi.
