Shire acquires Premacure to expand in new therapy area

In a second acquisition so far this year, Ireland-headquartered drugmaker Shire (LSE: SHP) said on Tuesday (March 12) that it has acquired Premacure AB of Uppsala, Sweden, 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. No actual financial terms were disclosed, but the initial payment is probably less than $30 million, according to Savvas Neophytou, an analyst at Panmure Gordon & Co quoted by Bloomberg.

This acquisition underscores and expands Shire’s commitment to bringing innovative therapies to patients with rare disorders worldwide. Earlier this year, Shire said it was buying US firm Lotus Tissue Repair, which is developing the first and only protein replacement therapy currently being investigated for the treatment of dystrophic epidermolysis bullosa (DEB; The Pharma Letter January 9).