Shire Announces New CEO Appointment; Also Strikes $325M GI Deal

Shire Announces New CEO Appointment; Also Strikes $325M GI Deal

Shire plc has acquired the worldwide rights, excluding the US and Japan, to AT-1001 from Alba Therapeutics Corporation. AT-1001 is Alba’s lead inhibitor of barrier dysfunction in various gastrointestinal disorders that is currently in Phase II development for the treatment of Celiac disease. Shire will pay Alba an upfront license fee of $25 million and further development and sales-based milestones totaling to a maximum of $300.5 million should the product reach blockbuster status. Shire (12/14)

The Board of Directors of Shire plc announced its Board succession plans. James H. Cavanaugh will retire as Non-Executive Chairman; Matthew Emmens (Shire’s current Chief Executive) will succeed him as Non-Executive Chairman. Angus Russell (Shire’s current Chief Financial Officer) will be appointed Chief Executive. These Board changes will become effective at Shire’s AGM in June 2008. Shire (12/13)

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