Shire acquires haematology specialist FerroKin BioSciences

Shire has announced the acquisition of FerroKin BioSciences, a specialist developer of haematology treatments, for an upfront fee of $100 million (63.14 million pounds).

The acquisition will allow Shire to gain access to the iron chelator treatment FBS0701, a new therapy in phase II development that can help to prevent iron overload following numerous blood transfusions.

Global regulatory filings are planned for myelodysplastic syndrome and hemoglobinopathy indications initially, with a potential launch taking place as early as 2016.

Under the terms of the acquisition, Shire will also pay potential post-closing milestone payments of up to $225 million, depending upon clinical development, regulatory and net sales targets being met.

Ross Murdoch, Shire's specialty pharmaceuticals senior vice-president for haematology, said: "This acquisition marks an important step for Shire in building a business that serves the growing needs of specialty haematologists and their patients."

Last week, the company was granted European regulatory approval for a new oral powder specification of Fosrenol, its chronic kidney disease therapy.