Shire agrees deal to acquire Dyax

Shire has announced the acquisition of Massachusetts-based biotechnology company Dyax, a move that will expand its hereditary angioedema (HAE) capabilities.

The deal is worth approximately $5.9 billion (3.83 billion pounds) and will give Shire control over a business that is primarily focused on the development of plasma kallikrein (pKal) inhibitors for the treatment of HAE.

It has already successfully developed and commercialised Kalbitor – which is approved for HAE acute treatment in patients 12 years of age and older – while its most advanced clinical programme is DX-2930, a phase III-ready fully humanised monoclonal antibody targeting pKal with proof-of-concept phase Ib efficacy data.

Estimates suggest that DX-2930 could achieve annual worldwide sales of up to $2 billion, offering patent protection and anticipated regulatory exclusivity beyond 2030.

Shire's chief executive officer Dr Flemming Ornskov said: "This highly complementary transaction aligns with and accelerates our strategy to build a global leading biotechnology company focused on rare diseases and specialty conditions."

The company confirmed that it is still pressing ahead with its efforts to acquire Baxalta, having launched a $30 billion takeover bid earlier this year.