Shire Will Research Drugs Against Hunter Syndrome
Shire Pharmaceutical company will invest about $ 225M in the development of therapy for a rare hereditary disease - Hunter syndrome. Shire’s partner will be the US company ArmaGen.
According to the agreement, ArmaGen will receive $ 15 million as the the first payment, further payments are depending on the achievement of goals. ArmaGen will be responsible for conducting research phase I and II, which is expected to start later this year. If they are successful, Shire initiates final Phase III clinical trials and will make an application for registration with the drug regulatory authorities.
Currently, U.S. and EU control authorities have provided experimental drug AGT-182 an orphan status. This status allows the company to achieve faster approval and extend exclusive rights for selling it.
Last week became public the fact of Shire buying AbbVie company for 32 billion pounds ($55 billion). This deal has created a new company based in the UK, but managed from headquarters of AbbVie, located in the US.
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