Shire?s Advanced BioHealing Renamed Shire Regenerative Medicine
Name change reflects strategy to build global Regenerative Medicine business and follows recent announcement to invest in new campus
San Diego, CA, US—July 19, 2012—Shire plc announced today that Advanced BioHealing, Inc., which was acquired by Shire in 2011 as a wholly-owned subsidiary focused on regenerative medicine, has changed its name to Shire Regenerative Medicine, Inc. The name change follows Shire’s recent announcement that it plans to build a regenerative medicine campus in San Diego to expand its operational footprint and presence in the area over the next several years.
“Becoming Shire Regenerative Medicine is an exciting milestone that more closely aligns us with our parent company and demonstrates our commitment to providing regenerative medicine solutions that enable people with life-altering conditions to lead better lives,” said Kevin Rakin, president of Shire Regenerative Medicine. “As the partner of choice for development-stage companies, we aspire to address society’s unmet medical needs by harnessing the power of regenerative medicine, both within our own development activities as well as those of companies we partner with.”
Shire Regenerative Medicine is focused on developing and delivering solutions that support the body’s natural healing process. The company’s lead regenerative medicine product, DERMAGRAFT®, is a bio-engineered skin substitute indicated for use in the treatment of full-thickness diabetic foot ulcers. VASCUGEL®, acquired from Pervasis Therapeutics in 2012, is in development to address improvement of arteriovenous access for patients on hemodialysis.
The Shire Regenerative Medicine name is effective today and the business will complete the rebranding effort by the end of 2012.
Notes to editors
Shire’s strategic goal is to become the leading specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician. Shire focuses its business on attention deficit hyperactivity disorder, human genetic therapies, gastrointestinal diseases and regenerative medicine as well as opportunities in other therapeutic areas to the extent they arise through acquisitions. Shire’s in-licensing, merger and acquisition efforts are focused on products in specialist markets with strong intellectual property protection and global rights. Shire believes that a carefully selected and balanced portfolio of products with strategically aligned and relatively small-scale sales forces will deliver strong results.
For further information on Shire, please visit the Company’s website: www.shire.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Statements included herein that are not historical facts are forward-looking statements. Such forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, the Company’s results could be materially adversely affected. The risks and uncertainties include, but are not limited to, risks associated with: the inherent uncertainty of research, development, approval, reimbursement, manufacturing and commercialization of the Company’s Specialty Pharmaceuticals, Human Genetic Therapies and Regenerative Medicine products, as well as the ability to secure new products for commercialization and/or development; government regulation of the Company’s products; the Company’s ability to manufacture its products in sufficient quantities to meet demand; the impact of competitive therapies on the Company’s products; the Company’s ability to register, maintain and enforce patents and other intellectual property rights relating to its products; the Company’s ability to obtain and maintain government and other third-party reimbursement for its products; and other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission.
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Posted: July 2012