Shire inks deal to buy Pervasis, adding Ph II drug candidate

13 April 2012

Ireland-headquartered biopharma firm Shire (LSE: SHP) said yesterday that it has signed an agreement to acquire substantially all the assets of Pervasis Therapeutics, a Florida, USA-base clinical stage drug developer.

Shire will provide Pervasis with an upfront payment, plus potential post-closing milestones that are dependent on Shire’s achievement of certain clinical development, regulatory and sales targets. Further financial terms were not revealed.

Shire summarizes the acquisition as follows:

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