News

Shire buys Premacure
Enlarge image

BusinessUKSweden

Shire buys Premacure

13.03.2013 - British Shire plc has broadened its therapeutic scope to neonatology by the strategic acquisition of Swedish Premacure AB of Uppsala.

The privately held biotech company is running a dose finding, safety and efficacy Phase II programme for the most common cause of visual loss in childhood – the prevention of retinopathy of prematurity (ROP). Currently, only symptomatic treatment is available for ROP. Shire will purchase Premacure for an undisclosed upfront fee and success-dependent milestones.

In ROP, preterm infants (born before 31 weeks of gestation) lack specific growth factors, such as insulin-like growth factor 1 (IGF-1), which supports normal childhood development and which is involved in ROP. The Swedish have developed a first-in-class recombinant protein replacement therapy termed rhIGF-I/rhIGFBP-3 (insulin-like growth factor-1 binding protein-3) for the orphan disease. The company believes administration of IGF-1 to premature infants, as a substitute for the maternal and endogenous source, allows for the establishment of a physiological level of the hormone comparable to that present in utero. 

Shire said it will continue the ongoing Phase II study, the primary goal of which is to restore the IGF-1 levels in preterm infants to those found during normal in utero development. „ We will build on the work that Premacure has done and will apply Shire’s proven ability in developing protein replacement therapies for rare disorders to bring this much needed therapy to the market,” said Flemming Ornskov, CEO Designate of Shire. The treatment targets a patient population of 1,100–1,500 in the US alone .

© eurobiotechnews.eu/tg

http://www.european-biotechnology-news.com/news/news/2013-01/shire-buys-premacure-ab.html

Stock MarketsFranceEU

27.03.2015 Europe is once more proving that it can be a good bet for biotech companies going public. A newly established EU-wide lobbying initiative could help the IPO boom on its way.

FinancingPoland

24.03.2015 Poland has announced the closing of a new venture capital fund at US$42m (€32m). The fund, which is the first of its kind in Poland, is dedicated to the Life Sciences with a strong connection to Central and Eastern Europe.

BioeconomyFranceSwedenGermanyNetherlandsFinland

23.03.2015 A BASF-led consortium aims to decrease bio-based production costs using industrial biotechnology. The Horizon2020 funded consortium is the sixth project of the SPIRE Public Private Partnership and has a budget of €14m.

Stock MarketsFranceSwedenUKNorwayIreland

20.03.2015 There are no signs of inertia creeping into the European biotech industry this spring. A total of eight IPOs are set to go public by the end of the year’s first quarter.

FinancingUKEU

17.03.2015 Pharma giants GlaxoSmithKline (GSK) and Johnson & Johnson (J&J) will be key collaborators in a new global fund for dementia research to address the rising threat posed by dementia and Alzheimer’s disease.

FinancingFranceDenmarkSwedenGermany

19.03.2015 French venture capital firm Seventure Partners has raised a further €25m for its microbiome-focused Health for Life Capital Fund. It now stands at €100m.

EventsFranceEUSwitzerlandUKGermany

12.03.2015 With around 1,400 companies and 2,400 participants, the springtime counterpart of BIO-Europe enjoyed a successful premiere in France this year. The overall mood of the European biotech industry was positive, and the French hosts in particular reported new initiatives.

M&ABelgium

11.03.2015 Belgian cell-based therapeutics developer and CMO MaSTherCell SA has been acquired by US biotech Orgenesis Inc. for €23m.

FinancingGermany

10.03.2015 The Gates Foundation has dipped into its purse to bring infectious diseases vaccines to the poorest countries. German vaccine specialist CureVac is set to receive US$52m for their mRNA platform technology.

Stock MarketsIrelandUK

05.03.2015 The IPO wave in the biotech sector shows no signs of slowing down. An Irish life sciences fund set up by former Elan executives plans to raise €325m with its IPO, whilst Summit Therapeutics has announced its IPO pricing of US$34m on Nasdaq.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • ANALYTIK JENA14.00 EUR0.07%
  • 4SC1.28 EUR0.00%
  • ACTELION112.60 CHF0.00%

FLOP

  • CYTOTOOLS31.45 EUR-0.47%
  • 4SC1.28 EUR0.00%
  • ACTELION112.60 CHF0.00%

TOP

  • CYTOS1.40 CHF311.8%
  • MEDIGENE11.65 EUR174.1%
  • 4SC1.28 EUR64.1%

FLOP

  • MORPHOSYS54.71 EUR-26.8%
  • WILEX2.96 EUR-13.7%
  • BASILEA106.70 CHF-12.7%

TOP

  • SANTHERA92.00 CHF2259.0%
  • WILEX2.96 EUR393.3%
  • FORMYCON23.15 EUR230.7%

FLOP

  • CYTOS1.40 CHF-53.0%
  • MOLOGEN5.68 EUR-49.9%
  • PAION2.35 EUR-29.6%

No liability assumed, Date: 28.03.2015