Shire plc has acquired Lumena Pharmaceuticals, Inc., a biopharmaceutical company with late stage rare disease assets, for an upfront payment of $260 million in cash, plus a payment for cash at closing and near-term milestones related to ongoing clinical trials.
The acquisition expands Shire's gastrointestinal portfolio, as well as liver disease, with LUM001, in Phase II development with four potential orphan indications, and LUM002 for the treatment of non-alcoholic steatohepatitis (NASH), which is expected to enter Phase II trials later this year.
Flemming Ornskov, MD, Shires chief executive of Shire, said, "Our pipeline and strategic focus on rare diseases is even further strengthened with the acquisition of Lumena Pharmaceuticals, which also complements our strong GI presence. These attractive potential treatments may offer new hope to patients with rare cholestatic liver disease and further contribute to Shire's future growth. We are excited by the possibilities of these new assets in liver disease. We have the resources, the infrastructure and the operating capacity to invest in these new potential growth drivers which add further value to Shire's innovative pipeline."
President and chief executive officer of Lumena Pharmaceuticals, Mike Grey, said, "I believe that this transaction is a significant win for all parties involved, especially the patients, and the future of LUM001 as a treatment for rare cholestatic liver diseases looks brighter than ever. Shire has deep rare disease experience, a global infrastructure, and the commercial expertise to deliver LUM001 to patients around the world. The Lumena team will work closely with Shire to finish the ongoing Phase II programs as part of our commitment to the patient populations we have championed since we formed Lumena Pharmaceuticals."