Nimbus, Shire in discovery deal
Nimbus Discovery LLC (Cambridge, Mass.) and Shire plc (LSE:SHP; NASDAQ:SHPG) partnered to discover and develop oral small molecules against an undisclosed target to treat lysosomal storage disorders. Nimbus will use its computational drug discovery technologies to profile molecules against the target and will develop a candidate up to late preclinical testing, at which point Shire has an exclusive option to acquire the program. If exercised, Shire will be responsible for clinical development and commercialization. Shire will fund the three-year deal. Nimbus is eligible for undisclosed milestones. Shire was up 44p to 1,906p on Wednesday. On NASDAQ, the stock was up $2.15 to $88.74.
Nimbus said the deal is the first announced through Shire's strategic alliance with Atlas Venture. In 2011, Atlas Venture and Shire partnered to create and fund newcos based on early stage assets to treat rare genetic diseases (see BioCentury, Dec. 19, 2011). ...