Shire gains on Lotus Tissue Repair acquisition

Ireland-based pharmaceutical company Shire on Wednesday gained on news it had acquired Lotus Tissue Repair.

Ireland-based pharmaceutical company Shire on Wednesday gained on news it had acquired Lotus Tissue Repair.

Shire advanced 1.78% to 1,998.00p on Tuesday morning following its announcement about purchasing the US-based company for an undisclosed sum.

Lotus is focused on developing the first treatment for dystrophic epidermolysis bullosa (DEB), a rare genetic disorder that causes extremely fragile skin and recurrent blister formation.

The group's protein replacement therapy is in late pre-clinical development for the treatment of DEB.

Philip Vickers, Head of Research and Development at Shire Human Genetic Therapies, said the protein replacement therapy could potentially provide first-in-class disease-modifying treatment for children with the disorder.

Lotus Tissue Repair was founded in 2011 when it closed on a $26m in Series A financing round from venture capital firm Third Rock Investors.

The acquisition marks Shire's latest effort to strengthen its rare disease offering including the treatment of EB.

Shire is also working on ABH001, a regenerative medicine product under investigation as a skin substitute therapy for nonhealing wounds in EB patients.

"The acquisition actually has no negative consequences on ABH001. That's moving ahead at full speed. It's not being slowed down. We very clearly see these as being complementary in a number of ways," Vickers told GEN.

RD

Recommended

Three sustainable stocks that are doing well by doing good
Share tips

Three sustainable stocks that are doing well by doing good

Professional investor Peter Michaelis of the Liontrust Sustainable Investment Team picks three stocks to buy that are helping to create a cleaner, saf…
26 Jul 2021
Share tips of the week – 23 July
Share tips

Share tips of the week – 23 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Jul 2021
Will Zoom’s $15bn purchase help it expand?
Tech stocks

Will Zoom’s $15bn purchase help it expand?

The videoconferencing platform became a household name during the pandemic, but it now needs new sources of growth. Alex Rankine reports
23 Jul 2021
Philip Morris goes “beyond nicotine”
Stocks and shares

Philip Morris goes “beyond nicotine”

US tobacco giant Philip Morris International has agreed to pay £1bn for British inhaler specialist Vectura.
23 Jul 2021

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Why the UK's 2.5% inflation is a big deal
Inflation

Why the UK's 2.5% inflation is a big deal

After years of inflation being a financial-assets problem, it is now an “ordinary things” problem too, says Merryn Somerset Webb. But central banks st…
16 Jul 2021
Commodity supercycle or not, here’s a metal that’ll still be in demand – tin
Industrial metals

Commodity supercycle or not, here’s a metal that’ll still be in demand – tin

Commodity prices may have come off the boil recently. But for tin, the only way is up. Dominic Frisby picks the best ways to invest.
7 Jul 2021