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SARcode Bioscience Announces Acquisition by Shire US Holdings Inc.
Date:3/25/2013

BRISBANE, Calif., March 25, 2013 /PRNewswire/ -- SARcode Bioscience, Inc., an ophthalmic biopharmaceutical company, announced today that it will be acquired by Shire US Holdings Inc., a global specialty biopharmaceutical company focused on enabling people with life-altering conditions to lead better lives.  SARcode's lead program, lifitegrast ophthalmic solution, is currently in Phase 3 studies for the treatment of signs and symptoms of dry eye.

"We are extremely pleased to have found a like-minded and visionary partner in Shire," commented Quinton Oswald , CEO of SARcode Bioscience. "They recognize the significant unmet need that exists in dry eye disease, and the great opportunity to provide lifitegrast to millions of dry eye sufferers in the US. Their expertise, particularly in specialty markets, coupled with their global presence and clinical support, will be a tremendous asset to the approval and ultimate commercialization of lifitegrast worldwide."  The SARcode team will remain in place to support the ongoing clinical and manufacturing programs through submission of the New Drug Application to the FDA. 

Under the terms of agreement, Shire will make an upfront payment of $160 million and SARcode shareholders will be eligible to receive additional significant undisclosed payments upon achievement of certain clinical, regulatory, and/or commercial milestones. The transaction is expected to close in the second quarter, subject to regulatory approval in the United States, and other customary closing conditions. 

"The acquisition by Shire validates the need for therapies designed specifically for dry eye, and also underscores the incredible growth prospect in eyecare," commented Robert Alexander , PhD, Director, Alta Partners . "Based upon the positive clinical and regulatory
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SOURCE SARcode Bioscience, Inc.
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