Shire Acquires Foresight Biotherapeutics for $300 MM
Shire plc has acquired New York-based, privately held Foresight Biotherapeutics Inc. for $300 million. With the acquisition, Shire acquires the global rights to FST-100 (topical ophthalmic drops combining 0.6% povidone iodine (PVP-I) and 0.1% dexamethasone), a therapy in late-stage development for treating infectious conjunctivitis, an ocular surface condition commonly referred to as pink eye.
Shire has acquired the global rights to FST-100 and will evaluate an appropriate regulatory filing strategy for additional markets outside the United States. Under the agreement, Shire will make a cash payment of $300 million to complete the acquisition of Foresight Biotherapeutics. The acquisition further strengthens Shire's late-stage pipeline and complements another later-stage drug candidate, lifitegrast, for treating dry eye disease, another ocular surface condition. If approved by regulatory agencies, FST-100 has the potential to become the first agent to treat both viral and bacterial conjunctivitis.
In May 2014, Shire established its Ophthalmics Business Unit, and its growth in ophthalmics has been driven by a combination of strategic acquisitions and organic growth. The company is focused on continuing to expand the ophthalmics portfolio to include treatment options for rare diseases and those for anterior and posterior eye conditions. Acquisitions in the last two years include SARcode Bioscience, Premacure AB, and BIKAM Pharmaceuticals, which has helped bolster Shire's early-, mid- and late-stage ophthalmics pipeline. The company currently has an ophthalmics pipeline of investigational products in dry eye, retinopathy of prematurity, autosomal dominant retinitis pigmentosa, glaucoma, and now adenoviral and bacterial conjunctivitis.