Shire and Boston Children’s Hospital Enter into Broad Research Collaboration
November 20, 2012
Lexington, Mass.-Shire PLC (LSE: SHP, NASDAQ: SHPG) and Boston Children’s Hospital today announced a three-year, broad research collaboration in rare diseases. The goal of the collaboration is to develop novel therapies to treat a number of rare pediatric diseases with high unmet medical need, thereby leveraging Boston Children’s research expertise and Shire’s development and commercialization capabilities. The partnership underscores Shire’s long-term commitment to bring innovative therapies to patients with rare diseases worldwide.
Under the terms of the agreement, Shire will make an initial upfront payment to Boston Children’s and will have the opportunity to fund selected research programs. The emphasis will be on opportunities that have the potential to deliver a development candidate in less than three years from project initiation. Following the completion of these programs, Shire will have an exclusive option to enter into a licensing agreement for each program. Upon entering into any subsequent licensing agreement, Boston Children’s will be eligible to receive certain development and commercial milestone payments, as well as royalties on product sales from Shire. Shire will have the primary responsibility for any further clinical development and commercialization of products arising from the collaboration. The agreement, negotiated on the Boston Children’s side by its Technology & Innovation Development Office, represents a flexible structure that aligns the parties according to their strengths.
“As a leader in rare diseases, Shire is pleased to enter into this innovative collaboration with Boston Children’s, which joins together leaders in academia and industry to advance pioneering research from the lab to the clinic,” said Dr. Philip J. Vickers, Global Head of Research and Development, Shire HGT. “Shire has a deep commitment to patients with rare diseases, and our developmental expertise combined with Boston Children’s research capabilities should enable an acceleration of our discovery and development efforts. Our collaboration with Boston Children’s is an ideal example of how we advance these goals."
“We are excited about the potential that the collaboration with Shire represents,” said Alan Beggs, PhD, Director of the Manton Center for Orphan Disease Research at Boston Children’s. “Boston Children’s brings the research infrastructure to make the foundational discoveries about these diseases and our clinicians know the patients and their needs. Partnering with Shire’s drug development capabilities represents a powerful combination that we hope will facilitate the development of new classes of therapy to ultimately benefit patients.”
Notes to editors:
Shire enables people with life-altering conditions to lead better lives.
Through our deep understanding of patients’ needs, we develop and provide healthcare in the areas of:
- Behavioral Health and Gastro Intestinal conditions
- Rare Diseases
- Regenerative Medicine
as well as other symptomatic conditions treated by specialist physicians.
We aspire to imagine and lead the future of healthcare, creating value for patients, physicians, policymakers, payors and our shareholders.
About Boston Children’s Hospital
Boston Children’s Hospital is home to the world’s largest research enterprise based at a pediatric medical center, where its discoveries have benefited both children and adults since 1869. More than 1,100 scientists, including nine members of the National Academy of Sciences, 11 members of the Institute of Medicine and nine members of the Howard Hughes Medical Institute comprise Boston Children’s research community. Founded as a 20-bed hospital for children, Boston Children’s today is a 395 bed comprehensive center for pediatric and adolescent health care grounded in the values of excellence in patient care and sensitivity to the complex needs and diversity of children and families. Boston Children’s also is a teaching affiliate of Harvard Medical School. For more information about research and clinical innovation at Boston Children’s, visit: http://vectorblog.org/.
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Jessica Mann (Corporate)
+44 1256 894 280
Jessica Cotrone (Human Genetic Therapies)
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