Shire buys Foresight Biotherapeutics for $300m

Shire has acquired New York-based, privately-held Foresight Biotherapeutics for $300m.

The deal gives Shire the global rights to FST-100, which are topical ophthalmic drops used in the treatment of infection conjunctivitis, also known as pink eye.

Shire said the acquisition further strengthens its late-stage pipeline, has a clear strategic fit with lifitegrast, which is in late-stage development for treatment of dry eye disease, another ocular surface condition, and further demonstrates the group’s commitment to building a leadership position in ophthalmics.

Chief executive office Flemming Ornskov, MD, said: Ophthalmics is a highly-attractive growth area for Shire and this acquisition allows us to strengthen our presence in this therapeutic area. It is highly synergistic with the planned lifitegrast commercial structure. FST-100 and lifitegrast, if approved, would address two of the leading reasons people seek eye care treatment.”

Shire said that if approved by regulatory agencies, FST-100 has the potential to become the first agent to treat both viral and bacterial conjunctivitis, which it said was important as it is frequently difficult to differentiate between the two causes of the condition.

At 12:49, Shire shares were up 0.8% at 5,725p.