BusinessIreland

Shire expands haematology business with virtual company

16.03.2012 - 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. 

http://www.european-biotechnology-news.com/news/news/2012-01/shire-expands-haematology-business-with-virtual-company.html

PoliticsEUPolandItalySpainUK

16.12.2014 Two consortia combined of 144 European companies, research institutes and universities have been selected for funding by the EIT in the areas of health and raw materials. Both clusters are set to acquire €1.1bn over the next seven years.

M&ALuxembourg

11.12.2014 Luxembourg bio-analytical testing company Eurofins Scientific has signed an agreement to acquire Boston Heart Diagnostics Corp. for an initial €112m.

StudySwitzerlandEU

10.12.2014 When it comes to the biggest investors in Research and Development (R&D) Swiss pharma top dogs Novartis and Roche have defended their positioning among the top ten companies worldwide – according to a recently published EU study.

FinancingUKSpain

09.12.2014 British drug delivery specialist Midatech Pharma plc floated on the London stock market. It is the third biotech IPO on the AIM market this year.

CooperationAustria

05.12.2014 Austrian contract research company VTU has entered into a development and commercialisation agreement with US company RCT. The partners want to combine both companies' Pichia pastoris protein production technologies under VTU's roof.

FinancingDenmark

03.12.2014 Danish biotech pharma Ascendis has successfully completed a €48m Series D financing round. The funding is expected to support its late-stage clinical trials to push its lead drug into Phase III trials.

RegulationUKFranceGermanySpain

01.12.2014 In spite of innovative new medicines on the market, the UK and Germany lag behind other countries and continue to use older medicines - especially in the treatment of cancer. French and Spanish patients, on the other hand, benefit much earlier from medical innovation.

RegulationItalyGermanyNetherlandsEU

28.11.2014 The first gene therapy for a rare genetic condition — UniQure's Glybera — is on its way to the European market. But there is a hefty price tag: Chiesi, responsible for the marketing of the orphan drug, is asking for a record price of €1.1m per patient.

Events

All Events

Current issue

All issues

Product of the week

Products