Issue Date: May 12, 2014
Shire To Pay $75 Million For Fibrosis Specialist
Irish drug company Shire will acquire Fibrotech, an Australian biopharmaceutical company, for $75 million. Fibrotech is developing a new class of drugs to treat health effects associated with fibrosis. The hook for Shire is Fibrotech’s lead product FT011, a therapy targeting focal segmental glomerulosclerosis (FSGS), currently in Phase I clinical trials. FSGS is a rare disease that affects the kidney’s filtering system and causes serious scarring.
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