March 20, 2013 - Assignment

Shire acquires Swedish biotech firm Premacure

Shire has acquired Premacure, a privately held Swedish biotechnology company.

Premacure, launched in 2006 by entrepreneurs and internationally recognized clinicians in the area of neonatology, is developing a drug for a potentially blinding eye disorder in premature babies. The company is being acquired for an undisclosed upfront sum followed by contingent payments based on clinical development and commercial success.

The acquisition of Premacure by one of Shire’s US-based HGT (Human Genetic Therapies) divisions brings Shire into the new area of neonatology and expands its already substantial presence in rare diseases. Shire is Britain’s third biggest drug maker with revenues of approximately USD 4.7 billion in 2012. The company’s shares are listed on the London Stock Exchange with ADR’s trading on NASDAQ.

Shire was advised by Mannheimer Swartling in the transaction. The firm’s team included Åke Kjellson and Maria Tufvesson Shuck, primarily assisted by Kristoffer Stråth, Ola Axelsson, Oscar Björkman Possne, Richard Edström, Raoul Mehta and Sofia Pedersen.