Meritage Pharma Acquired For $70M By Shire

San Diego-based pharmaceuticals firm Meritage Pharma has been acquired by Shire plc, Shire announced this week in a deal worth $70M upfront plus unspecified earnout. Shire said the deal gives it the global rights to Meritage's Oral Budesonide Suspension (OBS), which is being targeted at the treatment of eosinophilic esophagitis (EoE), a rare, chronic inflammatory gastrointestinal (GI) disease. Shire said the acquisition will enhance its late stage pipeline. Meritage Pharma was venture backed by Domain Associates, Latterell Venture Partners, and Vertical Group, and had raised north of $33.5M since 2008.