logo
Share SHARE
FONT-SIZE Plus   Neg

Shire To Buy FerroKin BioSciences For $100 Mln Plus Milestone Payments

Shire plc (SHP.L,SHPGY) Thursday reported agreeing to acquire privately-held FerroKin Biosciences Inc. for a cash consideration of $100 million and milestone payments of up to $225 million. The purchase is expected to add the iron chelator FBS0701, which is seen as a possible treatment for transfusional iron overload to Shire's hematology portfolio.

While phase 2 trials of FBS0701 are currently underway, Shire sees additional trials as well as a global filing for indications of Myelodysplastic Syndrome and hemoglobinopathies, with a launch target of 2016. Further, such key FerroKin employees as Founder and CEO Hugh Rienhoff may provide consulting services during a transition period.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A search has been launched for a dog that was placed aboard a wrong WestJet flight and ended up in Hamilton. The labradoodle named Cooper was mistakenly put on a flight to Hamilton and got off its leash in the Ontario city after it was taken out of its kennel by airline staff for a walk. Network management services provider Real Matters Inc. has filed preliminary prospectus for initial public offering in Canada. The filing is done with Ontario Securities Commission. According to Bloomberg, the Canadian real estate data firm is planning to raise around C$125 million or $96 million. Struggling women's apparel retailer Bebe Stores Inc. will close all its stores by the end of May 2017. In a filing with the Securities and Exchange Commission on Friday, Brisbane, California-based Bebe said it expects to incur an impairment charge of about $20 million as a result of the store closures.
comments powered by Disqus
Follow RTT