Shire to Acquire FerroKin BioSciences

The acquisition expands Shire's hematology business with Phase II drug FBS0701 which has received Orphan Product designation from both the FDA and EMA.

Shire has entered into an agreement to acquire FerroKin BioSciences, Inc. for an upfront payment of $100 million in cash, plus potential milestone payments totaling $225 million based on development, regulatory and sales targets.

The acquisition expands Shire's hematology business with Phase II drug FBS0701, a once-daily oral capsule in development for the treatment of iron overload due to chronic blood transfusions in adults and children.

FBS0701 has received Orphan Product designation from both the FDA and EMA.

Shire's Specialty Pharmaceuticals senior vice president of Hematology, Ross Murdoch, said, "We hope to use our expertise in hematology coupl