IrelandIreland

Shire expands haematology business with virtual company

16.03.2012

Dublin – Irish drugmaker Shire plc has agreed to pay US-$100m in upfront for Ferrokin Biosciences Inc., a San Francisco-based specialist for iron chelation therapies. US-$225m could be added if certain milestones are achieved. FerroKin is a virtual company founded by Hugh Young Rienhoff in 2007. It is working on a once-daily oral capsule to treat chronic blood transfusion patients suffering from iron overload, which increases the risk of heart, liver or other organ failures. Lead candidate FBS-0701 is in Phase II testing. "An important factor for FerroKin BioSciences in agreeing to this transaction was Shire's drive, capability and vision to bring new products to the haematology market that promise to raise the standard of care for patients," Rienhoff said in a press release. "In Shire's hands, FBS-0701 has greater potential to fulfil that promise." FerroKin was financed by Burrill & Co., Clarus Ventures, HealthCap Ventures and MP Venture. The acquisition is a strategic fit for Shire which plans to build up its haematology business unit. Shire already sells Xagrid to treat the overproduction of blood platelets.

IrelandIreland

26.05.2011

Dublin – Ireland’s Elan Corporation plc has paid US$50m to access Proteostasis Therapeutics’ pipeline of proteostasis regulators, peptidomimetic compounds that regulate protein folding, protein aggregation and protein degradation...

IrelandIreland

06.02.2011

Dublin – Irish drug maker Elan Corp. plc announced it has reduced its headcount by 130 (10%) to about 1,200. Elan said a nearly half of the 130 cuts came from the firm’s R&D department, and primarily occurred at its site in San...

IrelandIreland

07.09.2010

Nottingham/Dublin – Irish researchers have identified a new target in S.aureus bacteria that cause progressive bone destruction. According to Tania Claro from Royal College of Surgeons, S. aureus makes use of its surface protein...

IrelandIreland

11.08.2010

Elan Corporation plans to advance ELND005 into phase III testing, despite data indicating that it missed the co-primary endpoints in a phase II AD201 trial for Alzheimer's. According to the trial results, ELND005, a small...

IrelandIreland

03.08.2010

Dublin/St. Paul – Irish researchers have reported that a specific gene variant may increase the severity of multiple sclerosis (MS) symptoms. For the study, which was published in Neurology (3rd August), the research team led by...

IrelandIreland

20.04.2010

Dublin – Irish neuroscience specialist Elan Corporation plc has announced it is investigating the option of spinning out its Elan Drug Technologies business, creating two publicly listed enterprises. Elan is currently assessing...

IrelandIreland

02.03.2010

Dublin – The Elan Corporation has established a novel biomarker, 11C-PiB PET, that can detect whether Alzheimer drug candidates can reduce pathogenic beta-amyloid plaques in the brains of patients. With the new marker, Elan...

IrelandIreland

17.12.2009

Dublin – Irish company Elan Corporation plc and its partner Transition Therapeutics have withdrawn patients from two ongoing phase II trials with the compound ELDN005 following the death of nine patients. The studies were stopped...

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