Third Rock Ventures-backed Lotus Tissue Repair Acquired by Irish Firm

Shire plc (LSE: SHP, NASDAQ: SHPG), announces that it has signed an agreement to acquire Lotus Tissue Repair, Inc. of Cambridge, MA, a privately held biotechnology company developing the first and only protein replacement therapy currently being investigated for the treatment of dystrophic epidermolysis bullosa (DEB). DEB is a devastating orphan disease for which there is no currently approved treatment option other than palliative care. Subject to customary government approvals, Shire will purchase the company for an upfront payment and certain contingent payments based on the achievement of certain safety and development milestones.

Read Full Article Here: http://www.pehub.com/180186/shire-acquires-lotus-tissue-repair/

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