Lexington, MA, US- March 12, 2013- Shire announces that it has acquired Premacure AB of Uppsala, Sweden, a privately held biotechnology company developing a protein replacement therapy, currently in Phase II development, for the prevention of retinopathy of prematurity (ROP). ROP is a rare and potentially blinding eye disorder that primarily affects premature infants and is one of the most common causes of visual loss in childhood. Currently, only symptomatic treatment is available for ROP. Shire will purchase Premacure for an upfront payment and certain contingent payments based on the achievement of pre-specified development and commercial milestones. This acquisition underscores and expands Shire’s commitment to bringing innovative therapies to patients with rare disorders worldwide.
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Shire is also a Platinum Sponsor at the upcoming World Orphan Drugs Congress Asia, held from 18-19 June 2013 at Grand Copthorne Waterfront Hotel, Singapore.