Shield Therapeutics - Feraccru performs again in a Phase III study
Shield Therapeutics has announced positive top-line data from a Phase IIIb study (AEGIS-H2H) for Feraccru, a CHMP-approved oral formulation of iron positioned for the treatment of iron deficiency (ID) with or without anaemia. The data demonstrate that Feraccru is non-inferior to the market-leading IV iron (Ferinject) and has triggered a €2.5m payment from its marketing partner Norgine. Additional near-term revenue (royalties and milestones) can be expected as Norgine continues the rollout of Feraccru across Europe in 2020. In the US, we expect Feraccru approval in 2019 and that Shield will seek a marketing partner thereafter. We maintain our valuation of Shield at £178m or 153p/share.Shield Therapeutics is a specialty pharmaceutical company focused on the development and commercialization of late stage, hospital-focused pharmaceuticals which address areas of high unmet medical need. Co.'s key products are Feraccru®, commercially available for the treatment of Iron Deficiency Anaemia, and PT20, for the treatment of systemic phosphate accumulation (otherwise known as hyperphosphatemia). Co. has an additional pipeline of three prescription pharmaceutical assets (PT20, PT30 and PT40) with commercial synergies.
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