Shire to Acquire Lotus Tissue Repair
BRIEF: Shire to acquire Lotus Tissue Repair [Boston Herald]
Boston Herald (MA) - Jan. 08, 2013
Jan. 08--Shire plc said today it will acquire Lotus Tissue Repair Inc. of Cambridge, a privately-held biotechnology company developing a protein replacement therapy currently being investigated for treating dystophic epidermolysis bullosa.
Financial terms of the transaction were not disclosed.
Known as DEB, the orphan disease is characterized by the presence of extremely fragile skin and recurrent blister formation resulting from minor mechanical friction or trauma. Severe cases of DEB may also include internal blistering of the mouth, esophagus, lower gastrointestinal tract and upper airway.
Shire's Human Genetic Therapies business will undertake the further development of Lotus' lead product candidate, a proprietary recombinant form of human collagen Type VII called rC7, an intravenous protein replacement therapy for the treatment of DEB. The product is in late pre-clinical development.
Lotus Tissue Repair was launched in 2011 and is a portfolio company of Third Rock Ventures.
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Posted: January 2013
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