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New Chief Executive Reports Q1 Results and Sets out Strategy for Growth
Date:5/2/2013

l evaluate an appropriate regulatory filing strategy for markets outside of the United States. After customary closing adjustments, cash consideration paid on closing amounted to $150 million with further potential contingent payments upon achievement of certain clinical, regulatory, and commercial milestones.

Acquisition of Premacure AB ("Premacure")

  • On March 8, 2013 Shire completed the acquisition of Premacure, a privately held biotechnology company based in Uppsala, Sweden, developing PREMIPLEX®, a protein replacement therapy in Phase 2 development  for the prevention of retinopathy of prematurity ("ROP"). Shire purchased Premacure for an up-front payment of $31 million with further potential contingent payments based on the achievement of pre-specified development and commercial milestones.

    Shire will continue the ongoing Phase 2 study, the primary goal of which is to compare the severity of ROP among patients treated with PREMIPLEX, versus an untreated control population matched for gestational age.

    The acquisition of SARcode and Premacure will provide Shire with the foundation to build a potential new business unit in ophthalmology - a growing market with many unmet patient needs.  

Acquisition of Lotus Tissue Repair, Inc. ("Lotus")

  • On February 12, 2013 Shire completed the acquisition of Lotus, a privately held biotechnology company, based in Cambridge, MA, with a protein replacement therapy in pre-clinical development currently being investigated for the treatment of dystrophic epidermolysis bullosa ("DEB"). DEB is a devastating orphan disease for which there is no currently approved treatment option other than palliative care. Shire purchased the company for an up-front cash payment of $49 million and
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SOURCE Shire plc
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