Shire Acquires Lumena, Rare Disease Portfolio
Shire announced its acquisition of biopharmaceutical company Lumena Pharmaceuticals and its rare disease pipeline assets, including late stage compounds for rare gastrointestinal and hepatic conditions.
The acquisition will fortify Shire’s already strong pipeline and present opportunities to develop therapies for unmet medical needs in rare cholestatic liver diseases. Lumena’s assets also complement Shire’s gastrointestinal business, which generated over $800 million in revenues last year. Lumena’s assets include LUM001 and LUM002. LUM001 is currently in Phase II development for four rare and serious hepatic diseases: Alagille syndrome (ALGS), progressive familial intrahepatic cholestasis (PFIC), primary biliary cirrhosis (PBC) and primary sclerosing cholangitis (PSC), with possibility for a 2016 approval. LUM002 is Phase II ready drug candidate for non-alcoholic steatohepatitis (NASH).
Flemming Ornskov, CEO 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.”
Mike Grey, Lumena Pharmaceuticals President and CEO, 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.” CEO Grey said Shire has the expertise and global infrastructure to bring its investigational LUM001 compound to patients with rare hepatic diseases. He also said the Lumena team will work alongside Shire for the completion of the Phase II clinical programs for LUM001.
Shire will acquire Lumena for an upfront cash payment of $260 million with additional payment for net cash at closing and near-term contingent milestone payments for ongoing clinical trials. No further details of the transaction were disclosed by either company.