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Shire purchases company specializing in vascular repair therapies

Thursday, April 12 2012 | Comments
Evidence Grade 0 What's This?
Shire Plc executed an agreement to acquire substantially all of the assets of Pervasis Therapeutics Inc. in an effort to further expand its regenerative medicine business.  

Under the agreement, Pervasis will receive an up-front payment from Shire and could receive milestone payments if Shire achieves certain clinical development, regulatory and sales targets.

With the acquisition, Shire will gain a new cell-based technology platform. Shire said the acquisition also complements its purchase last year of Advanced BioHealing Inc., demonstrating the firm's commitment to building out its portfolio of regenerative medicine therapies. 

Pervasis' lead program is for Vascugel, an endothelial cell-based therapy being developed to enhance blood vessel repair and improve hemodialysis access for patients with end-stage renal disease.

Shire intends to initially focus on completing a Phase II program to address maturation and maintenance of arteriovenous access for patients undergoing hemodialysis.

"We believe Vascugel has the potential to enhance the rate of blood vessel repair while also providing for increased maintenance of the access site for a prolonged period of time as compared to current treatments," said Kevin Rakin, president of Shire's regenerative medicine unit. "This acquisition marks a very important step for Shire in building a regenerative medicine business focused on tissue repair and regeneration."

The company further noted that acquiring Pervasis is a strategic fit with Dermagraft, a product that Shire gained the rights to when it purchased Advanced BioHealing. Dermagraft is a regenerative bioengineered skin substitute approved for use in the treatment of diabetic foot ulcers greater than six weeks in duration.

Pervasis also has candidate programs in the areas of peripheral artery disease and oncology, among others.

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