Shire to Acquire Lotus Tissue Repair
Shire plc (NASDAQ: SHPG), announces that it has signed an agreement to acquire Lotus Tissue Repair, Inc. of Cambridge, MA, a privately held biotechnology company developing the first and only protein replacement therapy 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. Subject to customary government approvals, Shire will purchase the company for an upfront payment and certain contingent payments based on the achievement of certain safety and development milestones.
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.
Shire's Human Genetic Therapies business will undertake the further development of Lotus Tissue Repair's lead product candidate, a proprietary recombinant form of human collagen