SARcode, Shire deal

Shire will acquire SARcode for $160 million up front, plus undisclosed milestones. Shire will gain SARcode's lifitegrast, an eye drop formulation of a small molecule integrin beta(2) (LFA-1; MAC-1; CD18) 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 this quarter. Barclays advised Shire, while JPMorgan advised SARcode. Davis Polk LLP served as legal advisor to Shire, and Wilson Sonsini Goodrich & Roasati served as legal advisor to SARcode. ...