Shire to buy Foresight Biotherapeutics for $300m

The acquisition will give Shire access to the global rights of Foresight’s FST-100, a topical ophthalmic drops combining 0.6% povidone iodine (PVP-I) and 0.1% dexamethasone.

FST-100 is a therapy, which is currently in the late-stage development, to treat infectious conjunctivitis, an ocular surface condition commonly referred to as pink eye.

Shire noted that the acquisition of FST-100 has a clear strategic fit with lifitegrast, which is in late-stage development for treatment of dry eye disease, another ocular surface condition.

Shire CEO Flemming Ornskov 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.

"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. FST-100 and lifitegrast, if approved, would address two of the leading reasons people seek eye care treatment."

Currently, there no existing therapies to resolve both clinical signs and symptoms and eradicate adenovirus, which is the most common cause of viral conjunctivitis.

Following completion of the transaction, Shire will take responsibility for the final development and implementation for the Phase III clinical program for FST-100, to also include investigation for the treatment of bacterial conjunctivitis.

Image: Shire agrees to acquire eye-drug company Foresight Biotherapeutics for $300m. Photo: courtesy of FreeDigitalPhotos.net / Wagging Dog Media Limited.