Shire buys Swedish biotech Premacure
Shire has acquired privately held Swedish biotech firm Premacure, thus increasing its investment in rare diseases.
The Swedish biotech is currently in Phase II development of a protein replacement therapy for the prevention of retinopathy of prematurity (ROP).
ROP primarily affects premature infants and is a rare and potentially blinding eye disorder that is one of the most common causes of visual loss in childhood. Only symptomatic treatment is currently available for ROP.
“ROP is a devastating eye disorder that can severely impact preterm infants for the rest of their lives. This investigational protein has the potential to provide a first-in-class treatment that may minimize the development and impact of complications arising from ROP. We will build on the work that Premacure has done and will apply Shire’s proven ability in developing protein replacement therapies for rare disorders to bring this much needed therapy to the market.”
Flemming Ornskov, MD, CEO Designate, Shire
The purchase will involve an undisclosed upfront payment and certain contingent payments based on the attainment of pre-specified development and commercial milestones.
Shire Acquires Premacure AB (Shire press release)
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