Expands pipeline targeting renal and fibrotic diseases
Shire is to buy Fibrotech, an Australian biopharmaceutical company developing a new class of drugs to prevent fibrosis, for US$75m, plus undisclosed contingent payments.
Fibrotech’s lead product, FT011, is currently in a Phase 1B study in patients with diabetic nephropathy and the first Phase II study is expected to enrol patients with Focal Segmental Glomerulosclerosis (FSGS) next year. FSGS is a rare disease that affects the kidney’s filtering system causing serious fibrosis (scarring).
Shire will also acquire Fibrotech’s library of molecules, including FT061, which is in pre-clinical development and has a similar mode of action to FT011. It is an oral small molecule with the potential to address both the inflammatory and pro-fibrotic components of fibrosis.
Phil Vickers, Head of Research & Development at Shire, said the acquisition will expand the company's pipeline targeting renal and fibrotic diseases.
'There have been significant advances in the scientific understanding of fibrosis and the use of biomarkers to support clinical development – which makes now a good time to invest in these promising assets targeting a novel mechanism of action,' he said.