Shire Plc Puts $22 Million Into Rare Diseases R&D Partnership
Published: Oct 24, 2012
NYON, Switzerland, October 24, 2012 /PRNewswire/ -- Shire plc (LSE: SHP, NASDAQ: SHPG), today announced a long-term, broad based, multi-indication research collaboration in rare diseases with Fondazione Telethon, a major Italian biomedical charitable foundation, for research carried out at the Telethon Institute of Genetics and Medicine (TIGEM). This alliance will facilitate research on 13 undisclosed rare disease indications and has the potential to add multiple, novel therapeutic candidates into Shire's early stage pipeline. The partnership underscores Shire's long-term commitment to bring innovative therapies to patients with rare diseases worldwide.
The collaboration brings together Shire's established capabilities in developing and distributing effective, life-altering therapies for patients with rare diseases and TIGEM's world renowned research expertise in gene therapy and other novel therapeutics. Under the terms of the agreement, Shire will provide $22 million (€17 million) funding over five years for several research projects that collectively address a number of different lysosomal storage disorders and neurodegenerative diseases. The majority of the research will be conducted in TIGEM's facility in Naples, Italy under the direction of Andrea Ballabio. Successful projects that arise from this research will be incorporated into Shire's development pipeline and benefit from additional Shire investment and resources.
"As a leader in rare diseases, Shire's partnership with Fondazione Telethon is another way for us to ensure that we expand into new disease areas and enhance our collaborative relationships with academic institutions," said Philip J. Vickers, Senior Vice President, Research and Development, Shire HGT. "Shire's developmental expertise combined with TIGEM's early stage research capabilities will enable us to accelerate our discovery and development efforts. This research collaboration is evidence of Shire's commitment to patients with rare diseases and our intent to work with the best institutions to achieve this."
"The collaboration with Shire proves yet again the value of Telethon-funded research which is able to attract interest in the pharmaceutical market, even in a critical phase like the current one. We are particularly pleased because alliances like this one represent, for a not for profit organization like ours, an actual opportunity to fulfill the promise made to patients and donors who have been supporting us; translating the excellent results of scientific research into therapies that are accessible to people suffering from genetic diseases still lacking a cure. Those are the people for whom Telethon was born and still exists and keeps working," said Francesca Pasinelli, General Manager of Fondazione Telethon.
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
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 Fondazione Telethon
Fondazione Telethon is a major Italian charity. Born in 1990 from a promise to a community of patients, its ultimate goal is to cure rare genetic diseases through investments in excellent biomedical research.
Through a €350 million investment, 2400 projects have been funded to date producing more than 9000 papers in internationally recognized journals and significant advances towards the cure of several genetic diseases with 26 therapeutic strategies currently under development.
The Telethon Institute of Genetics and Medicine (TIGEM) was the first intra-mural research institution to be founded by Telethon; it is a world renowned centre for functional studies on genetic diseases. TIGEM is located in Naples and directed by Andrea Ballabio.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Statements included herein that are not historical facts are forward-looking statements. Such forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, the Company's results could be materially adversely affected. The risks and uncertainties include, but are not limited to, risks associated with: the inherent uncertainty of research, development, approval, reimbursement, manufacturing and commercialization of the Company's Specialty Pharmaceuticals, Human Genetic Therapies and Regenerative Medicine products, as well as the ability to secure new products for commercialization and/or development; government regulation of the Company's products; the Company's ability to manufacture its products in sufficient quantities to meet demand; the impact of competitive therapies on the Company's products; the Company's ability to register, maintain and enforce patents and other intellectual property rights relating to its products; the Company's ability to obtain and maintain government and other third-party reimbursement for its products; and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission.
For further information please contact:
Jessica Mann (Corporate)
Jessica Cotrone (Human Genetic Therapies)
Anna Maria Zaccheddu