Shire acquiring dry eye company SARcode

Shire plc (LSE:SHP; NASDAQ:SHPG) will acquire ophthalmic company SARcode Bioscience Inc. (Brisbane, Calif.) for $160 million up front, plus undisclosed milestones. Shire will gain SARcode's lifitegrast, an eye drop formulation of a small molecule LFA-1 antagonist in Phase III testing to treat signs and symptoms of dry eye. Shire said it is conducting a review of its portfolio to accommodate the deal, which is expected to close in 2Q13. Barclays advised Shire, while JPMorgan advised SARcode.

Earlier this month, Shire acquired rare eye disease company Premacure AB, which has a compound in Phase II testing to prevent retinopathy of prematurity (ROP) (see BioCentury Extra, March 12). ...