Shire announces Lotus Tissue Repair takeover deal

Shire has announced that it has signed an agreement to acquire Lotus Tissue Repair, a biotechnology company headquartered in Massachusetts.

The firm is currently developing the first and only protein replacement therapy under investigation as a potential treatment for dystrophic epidermolysis bullosa (DEB), a devastating orphan disease for which there is currently no approved therapy.

Characterised by the presence of extremely fragile skin and recurrent blister formation, the disease's impact could be ameliorated by Lotus Tissue Repair's product candidate, which is a proprietary recombinant form of human collagen Type VII.

It will join other potential epidermolysis bullosa drugs in Shire's portfolio, such as ABH001, a developmental dermal substitute therapy for the treatment of non-healing wounds among this patient group.

Dr Philip Vickers, global head of research and development for Shire Human Genetic Therapies, said: "We plan to apply our proven ability to develop protein replacement therapies for rare genetic diseases to progress rC7 as a possible groundbreaking treatment that offers hope to patients with DEB."

Last month, Shire announced a new collaboration with Arrowhead Research Corporation, which will focus on the creation of peptide-targeted therapies for the treatment of rare conditions.