Shire buys Fibrotech for US$75m plus milestones


Expands pipeline targeting renal and fibrotic diseases

Shire is to buy Fibrotech, an Australian biopharmaceutical company developing a new class of drugs to prevent fibrosis, for US$75m, plus undisclosed contingent payments.

Fibrotech’s lead product, FT011, is currently in a Phase 1B study in patients with diabetic nephropathy and the first Phase II study is expected to enrol patients with Focal Segmental Glomerulosclerosis (FSGS) next year. FSGS is a rare disease that affects the kidney’s filtering system causing serious fibrosis (scarring).

Shire will also acquire Fibrotech’s library of molecules, including FT061, which is in pre-clinical development and has a similar mode of action to FT011. It is an oral small molecule with the potential to address both the inflammatory and pro-fibrotic components of fibrosis.

Phil Vickers, Head of Research & Development at Shire, said the acquisition will expand the company\'s pipeline targeting renal and fibrotic diseases.

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\'There have been significant advances in the scientific understanding of fibrosis and the use of biomarkers to support clinical development – which makes now a good time to invest in these promising assets targeting a novel mechanism of action,\' he said.