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news.Shire has entered intro an agreement to take over Advanced BioHealing, a developer, manufacturer and commercializer of living cell-based therapies for regenerative medicine, for $750m.
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With this acquisition, Shire plans to expand Advanced BioHealing’s manufacturing facility and research laboratories.
Shire will add Dermagraft in its product portfolio, which is indicated for the use in the treatment of diabetic foot ulcers greater than six weeks in duration.
Advanced BioHealing has fully enrolled multi-national trials (in US, Germany, Poland, Sweden, UK, Estonia and South Africa) to evaluate Dermagraft for the treatment of venous leg ulcers (VLUs).
The data is due in Q4 this year with anticipated US filing in Q1 2012.
Shire said it will continue to invest in the development of new indications and new geographies, pending regulatory approvals.
Shire Specialty Pharmaceuticals business president Mike Cola said they believe there is an opportunity to create more value from Dermagraft and Advanced BioHealing’s proprietary technology and that with Advanced BioHealing’s team joining Shire, they can build Advanced BioHealing into a new business providing regenerative medicine for patients’ unmet needs.