Shire is making a payment to Zymenex of $135 million for the acquisition of global rights to the product upon completion of the transaction, which is conditional upon the receipt of customary consents. Zymenex is also providing certain transition services, including know-how transfer, for up to six months after completion. The transaction includes no royalties or other downstream payment obligations.
The newly acquired arylsulfatase -A, currently known as Metazym, has completed a Phase Ib clinical trial in 12 metachromatic leukodystrophy patients in Europe and an extension to this study is ongoing. The product has received FDA approval for its investigational new drug application to initiate a Phase II clinical trial and has been granted orphan drug designation in the US and in the EU.