Shire To License IBD Drug PF-00547659 From Pfizer; Terms Not Disclosed

(RTTNews) - Biotechnology company Shire plc (SHP.L, SHPG) announced Tuesday that it has agreed to license global rights to all indications for PF-00547659 from Pfizer Inc. (PFE). Terms of the deal were not disclosed.

PF-00547659 is an investigational biologic being evaluated for the treatment of moderate-to-severe inflammatory bowel disease or IBD. PF-00547659 has been evaluated in more than 700 patients in Phase 1 and 2 trials, and Phase 3 trials are expected to begin after consultation with global health authorities.

Closing of the transaction is subject to HSR approval.

IBD includes ulcerative colitis and Crohn's disease, which are serious, chronic diseases characterized by inflammation of the intestine; symptoms include abdominal pain, severe diarrhea, rectal bleeding, fatigue, and weight loss, and can be debilitating.

Treatment of IBD focuses on reducing inflammation and associated symptoms through diet and lifestyle changes, pharmacologic therapy, other treatments, or surgery.

PF-00547659 is a fully-human monoclonal antibody that is designed to directly target a gastrointestinal endothelial adhesion molecule known as mucosal addressin cell adhesion molecule 1.

PF-00547659 has completed Phase 2 clinical trials in ulcerative colitis and Crohn's disease, known as TURANDOT and OPERA, respectively.