The biotechnology company backed by a Mitsubishi unit, which treats patients with excess iron in their blood, sells for up to $325m
US-based pharmaceutical company Shire has bought US-based biotechnology company Ferrokin, backed by a unit of Japan-based conglomerate Mitsubishi, for an upfront payment of $100m, with potential milestone payments of $225m.
Backers of Ferrokin, which treats patients with too much iron in their blood, also reportedly included pharmaceutical company Celgene, news provider Fierce Biotech said.
Ferrokin raised $12m in 2010 from merchant bank Burrill & Company, venture capital firms Clarus Ventures and Healthcap Ventures, and MP Healthcare Venture Management (MPH),…
