Shire, a specialty biopharmaceutical company, has acquired Premacure, a privately held Swedish biotechnology company.
Premacure is currently developing a protein replacement therapy to treat retinopathy of prematurity (ROP), a rare and potentially blinding eye disorder that primarily affects premature infants.
Based on the achievement of pre-specified development and commercial milestones of the protein replacement therapy, the US-based company will offer upfront payment and certain contingent payments to Premacure.
The acquisition will allow Shire to foray into a new therapeutic area - neonatology.
Shire managing director and CEO Flemming Ornskov said: "This investigational protein has the potential to provide a first-in-class treatment that may minimize the development and impact of complications arising from ROP. 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."
Premacure CEO Jan Borg said: "The acquisition of Premacure by Shire further underscores the potential to change the long-term outlook for preterm infants with ROP and their families."
