Shire creates separate neurosciences division for future investments; Agenus gains $28M in royalty deal
→ Pfizer may be getting out of neurosciences work, but Shire $SHPG is stepping up its game. Shire is creating two separate drug divisions to help sharpen its focus on neurosciences. After a business review Shire says that it has determined that it will be better able to make strategic investments in the field if they carve out neurosciences. The news comes alongside a warning that Shire will fall well short of its announced goal of hitting $20 billion in revenue in 2020, which it promised in the wake of the Baxalta buyout. The new goal is $17 billion to $18 billion. Shire is also prepping a spinout of its ADHD group as it focuses more on rare diseases.
→ Agenus $AGEN is picking up $28 million after negotiating a $230 million royalty deal with HealthCare Royalty Partners. The biotech is redeeming its royalty bond from Oberland with the added monies to advance registrational studies with anti-CTLA-4 and anti-PD-1.
→ As the fight on hereditary ATTR (hATTR) amyloidosis between Ionis and Alnylam intensifies, Ionis $IONS announced today that inotersen has been granted priority review at the FDA, with the PDUFA date set on July 6, 2018. This comes just one day after Alnylam $ALNY took global rights to patisiran — which treats the same rare disease — back from Sanofi in a major deal restructuring.