LONDON (Reuters) - Pharmaceutical firm Shire (SHP.L) said on Thursday it had agreed to buy the assets of Pervasis Therapeutics in a deal that brings a new technology aimed at improving blood vessel repair for dialysis patients to its regenerative medicine business.
Pervasis is developing acute vascular repair technologies for patients with end-stage renal disease (ESRD), Shire said, and as such it was a good fit with its Dermagraft treatment for diabetic foot ulcers.
Diabetes is the leading cause of ESRD, accounting for about 40 percent of ESRD patients treated in the United States, it said.
Shire said it would provide Pervasis with an upfront payment, the value of which was not disclosed, and additional funds dependent on the cell-based therapy, called Vascugel, meeting clinical development targets.
(Reporting by Paul Sandle)