Shire plc (SHPGY) to Acquire FerroKin BioSciences in $100M Deal + ~$225M of Milestones

Shire plc (Nasdaq: SHPGY), has signed an agreement to acquire FerroKin BioSciences, Inc., for an upfront payment of $100 million, payable in cash at closing, plus potential post-closing milestone payments of up to $225 million, depending upon the achievement of certain clinical development, regulatory and net sales targets.

• A strategic step in building Shire's hematology business (which already includes Xagrid and a growing development pipeline)
  
  
• Adds a differentiated product in development (iron chelator FBS0701), with global rights, in a global market currently worth over $900 million and growing
  
  
• Serves chronic patient need for treatment of iron overload following numerous blood transfusions. Excess iron in vital organs such as the liver and heart increases the risk of organ failure and is the principal cause of death in transfusion-dependent patients
  
  
• Consistent with Shire strategy of developing and commercializing differentiated specialist products prescribed by specialist physicians (hematologists/ hematologist-oncologists) served by a small sales force
  
  
• FBS0701 will be developed to demonstrate clinical efficacy and an attractive safety profile relative to currently approved chelating agents:
  
  
• Global filing planned for indications for Myelodysplastic Syndrome and hemoglobinopathies initially
  
  
• Phase 2 studies underway with additional trials planned
  
  
• Potential launch as early as 2016

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