Shire to acquire Lotus Tissue Repair for undisclosed price

9 January 2013

Ireland-headquartered drugmaker Shire (LSE: SHP) said yesterday that it has signed an agreement to acquire privately-held US biotech 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).

Subject to customary government approvals, Shire will purchase the company for an undisclosed upfront amount and certain contingent payments based on the achievement of certain safety and development milestones. Shire’ shares rose 1.9% to £19.51 by 13.00 GMT.

Epidermolysis Bullosa (EB) is a set of rare, genetic diseases characterized by the presence of extremely fragile skin and recurrent blister formation resulting from minor mechanical friction or trauma. DEB is one of the more severe of the genetic disorders that comprise EB. Severe cases of DEB may also include internal blistering of the mouth, esophagus, lower GI tract, upper airway and GU tract.

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