Shield Therapeutics' Feraccru treatment launched in UK

Feraccru is a novel, stable, non-salt, oral formulation which is specifically aimed at combatting iron deficiency anaemia in adults with inflammatory bowel disease and act as an alternative to salt-based treatments that are compromised by PH changes in the gut that can be caused by medicines used to treat iron deficiency symptoms.

Shield licensed the treatment to Norgine in most European territories, Australia and New Zealand in September.

In exchange, Norgine paid the AIM traded company license fee of £11m with scope for additional milestones totalling €54.5m and royalties on sales ranging from 25% up to 40%.

Carl Sterritt, Chief Executive Officer of Shield Therapeutics, added: "I am delighted that Norgine's UK team is now starting to promote Feraccru in the UK. Since announcing the licence agreement in September 2018, we have been working closely with Norgine to transfer knowledge and responsibilities from Shield to them and the UK launch demonstrates that this transition period is progressing well."

The treatment is also currently under review by the US Food and Drug Administration, with an expected target date for completion expected in the near future.

Shield Therapeutics’ shares were unchanged at 34.00p at 1316 GMT.