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Shire acquires Foresight Biotherapeutics for $300 million
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Shire has acquired privately held Foresight Biotherapeutics for a cash payment of $300 million, according to a press release.
The acquisition includes the global rights to FST-100, topical ophthalmic drops that combine 0.6% povidone-iodine and 0.1% dexamethasone to treat infectious conjunctivitis. Shire said there is synergy between the commercial structures of FST-100 and lifitegrast, which are both in late-stage development, the release said.
Flemming Ornskov
“Ophthalmics is a highly attractive growth area for Shire, and this acquisition allows us to strengthen our presence in this therapeutic area. It is highly synergistic with the planned lifitegrast commercial structure,” Flemming Ornskov, MD, CEO of Shire, said in the release.
Shire plans on evaluating appropriate regulatory filings for FST-100 in additional markets outside of the U.S. If approved, the drug could be the first to treat both viral and bacterial conjunctivitis, the release said.
“With the acquisition of Foresight Biotherapeutics, Shire demonstrates its commitment to eye care while advancing its strategy of addressing high unmet medical need through transformative treatments for rare diseases and specialty medicines,” Ornskov said in the release.