Shire acquires global license to PRIM program

Ireland-headquartered rare diseases specialist Shire (LSE: SHP) has acquired rights to a preclinical autoimmune candidate from US biotech firm AB Biosciences.

Shire has been granted an exclusive worldwide license to develop and commercialize AB Biosciences’ pan receptor interacting molecule (PRIM) program, which uses AB Biosciences’ proprietary oligomeric Fc technology platform. PRIM, a recombinant immunoglobulin product candidate, has shown encouraging preclinical data, including enhanced biological activity relative to currently approved intravenous immunoglobulin (IVIg) therapies, in preclinical models of autoimmune and inflammatory diseases.

Under the terms of the deal, AB Biosciences will receive an undisclosed upfront license fee payment from Shire and is eligible to receive contingent research, development, and commercialization milestone payments as well as royalty payments.