Shire, a specialty biopharmaceutical company, is set to purchase US-based biotechnology company Lotus Tissue Repair.
Under the purchase, Lotus Tissue Repair's intravenous protein replacement therapy, which is in late pre-clinical development for the treatment for dystrophic epidermolysis bullosa (DEB), will be further developed by Shire's Human Genetic Therapies business.
The therapy, which is a proprietary recombinant form of human collagen Type VII (rC7), will be added to the product portfolio along with Shire's regenerative medicine product ABH001, which is currently being investigated as a dermal substitute therapy for the treatment of non-healing wounds in patients with EB.
Shire Human Genetic Therapies research and development global head Philip Vickers said DEB is one the most devastating orphan diseases, severely impacting the lives of patients and their families, many of whom have few or no treatment options other than palliative care.
"rC7 protein replacement therapy has the potential to provide a first-in-class disease-modifying treatment for these children," Vickers added.
Based on the achievement of certain safety and development milestones, Shire will pay Lotus Tissue Repair with an upfront payment and certain contingent payments, under the transaction which is subject to customary government approvals.