Shire agrees purchase of Lotus Tissue Repair
Expands firm’s commitment to finding treatments for Epidermolysis Bullosa (EB)
Shire is to acquire Lotus Tissue Repair of Cambridge, MA, a privately held US biotechnology company developing the first protein replacement therapy for the treatment of dystrophic epidermolysis bullosa (DEB). DEB is an orphan disease for which there is no currently approved treatment option other than palliative care.
Subject to customary approvals, Shire will purchase the company for an unspecified upfront payment and payments based on the achievement of certain safety and development milestones.
Epidermolysis Bullosa (EB) is a set of rare, genetic diseases characterised by the presence of extremely fragile skin and recurrent blister formation resulting from minor mechanical friction or trauma. DEB is one of the more severe of the genetic disorders that comprise EB. Severe cases of DEB may also include internal blistering of the mouth, oesophagus, lower GI tract, upper airway and GU tract.
The acquisition expands Shire's commitment to finding treatments for EB
Shire’s Human Genetic Therapies business will further develop Lotus Tissue Repair’s leading product candidate, a proprietary recombinant form of human collagen Type VII (rC7), an intravenous protein replacement therapy for the treatment of DEB. The product is in late pre-clinical development and has the potential to be the first systemic therapy for the treatment of DEB.
The acquisition expands Shire’s commitment to finding treatments for EB, which also includes ABH001, Shire’s Regenerative Medicine product currently being investigated as a dermal substitute therapy for the treatment of non-healing wounds in patients with EB.
‘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,’ said Philip Vickers, global head of Research and Development, Shire Human Genetic Therapies.
Lotus Tissue Repair is a private company launched in 2011 by a team of biotechnology entrepreneurs, experts in rC7 protein replacement therapy for DEB and life sciences investor, Third Rock Ventures, located in Boston, MA.