Shire (SHPGY): Acquires Pervasive Therapeutics Vascular Assets

Shire (SHPGY): Acquires Pervasive Therapeutics Vascular Assets

Shire Pharma (NASDAQ:SHPGY) will acquire the vascular assets of Pervasis Therapeutics (Cambridge, Mass.) in a deal valued at up to $200 million, including an undisclosed upfront payment and milestones. The deal includes Vascugel, a biodegradable implant containing human endothelial cells in Phase II testing to prevent hemodialysis vascular access failure in patients with end-stage renal disease (ESRD). Shire said Vascugel will add to its regenerative medicine portfolio, which includes marketed diabetic foot ulcer therapy Dermagraft, gained last year through the acquisition of Advanced BioHealing.  

Shire will also gain Pervasis' PVS-10200, a formulation of tissue-engineered allogeneic endothelial cells in the Phase I/II TRIUMPH trial to prevent restenosis in peripheral arterial disease (PAD) patients undergoing angioplasty or a stent procedure. Pervasis will retain its non-vascular assets, which include preclinical programs in cancer, inflammation and orthopedics. The deal is expected to close this quarter.