Pharma BD Deal Intelligence

Shire plc / Pervasis Therapeutics, Inc.

2012 · Asset Purchase · $200M · Complete

Vascugel was shelved in 2014 after unexpected trial complications, killing the deal within two years of Shire's $200M asset purchase from Pervasis. The Phase 2 vascular access therapy never reached the market, and Shire folded within its broader Regenerative Medicine exit alongside the Dermagraft divestiture.

WRONG BY 65 POINTS

Vascugel was shelved in 2014 after unexpected trial complications, and Shire exited the whole Regenerative Medicine unit it belonged to within two years of the Pervasis deal.

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The coverage arc

Apr 10, 2012 MedCity News Bullish

Shire's Pervasis acquisition added Vascugel and an endothelial cell platform to its regenerative medicine division alongside Dermagraft, with deal value up to…

Apr 12, 2012 BioSpace Bullish

Shire to purchase substantially all Pervasis Therapeutics assets to fortify its regenerative medicine business, gaining the Vascugel platform to reestablish…

Jan 14, 2013 Shire (via Takeda archive) Neutral

Shire initiated two Phase 2 studies of SRM003/Vascugel in ESRD patients undergoing AV access creation for hemodialysis — confirming the asset advanced into…

Source summaries from our enrichment pipeline; follow links for originals.

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Shire acquired substantially all Pervasis Therapeutics assets for an undisclosed upfront plus milestone payments totaling up to ~$200M. Added Phase 2 Vascugel cell-based vascular access therapy to Shire's regenerative medicine business (alongside Dermagraft from 2011 Advanced BioHealing deal).

Did it work? Outcome assessment

Vascugel was shelved in 2014 after unexpected trial complications, and Shire exited the whole Regenerative Medicine unit it belonged to within two years of the Pervasis deal.

Strategic verdict
Failed to Achieve
Financial impact
Impaired/Written Down
Shire structured the Pervasis deal as a modest undisclosed upfront plus milestones worth up to ~$200M, contingent on clinical, regulatory and sales targets that were never met. Less than two years after closing, Shire exited regenerative medicine entirely: in January 2014 it sold the Dermagraft business to Organogenesis and recognized a $636.9M impairment on those regenerative-medicine assets. The Pervasis/Vascugel program was discontinued in that wind-down; its milestones ne
Pipeline outcome
Assets Terminated
Vascugel (SRM003) advanced into two Phase 2 hemodialysis-access studies in 2013, but the program was shelved when Shire dismantled its Regenerative Medicine division in 2014. Vascugel is listed as discontinued for peripheral vascular/arterial disorders.

Key facts

Disease & market context

Hemodialysis Vascular Access Failure (End-Stage Renal Disease)

Disease Overview

Patients with end-stage renal disease (ESRD) on hemodialysis require durable vascular access — typically an arteriovenous fistula (AVF) or graft (AVG) — to receive treatment. Access failure from intimal hyperplasia, thrombosis, and stenosis is common, driving repeat interventions and hospitalizations; no approved pharmacologic therapy directly addresses access maturation/maintenance.

Competitive Landscape

In 2012 there were no FDA-approved drug or biologic therapies specifically indicated to prevent AV access failure. Standard of care relied on surgical technique optimization, endovascular interventions (PTA, stent grafts such as Bard's Covera/Flair), and antiplatelet/anticoagulation regimens. Competing biologic/device approaches in development included Proteon Therapeutics' vonapanitase (PRT-201, recombinant human elastase) for AVF maturation, and various drug-eluting balloon strategies (e.g., Lutonix DCB) trialed for access salvage. Shire's Vascugel (SRM003) — an allogeneic endothelial cell-seeded gelatin matrix implant developed in Elazer Edelman's Harvard-MIT lab — was distinguished as a regenerative cell therapy aiming to recreate physiologic endothelial signaling at the surgical anastomosis. The Pervasis acquisition slotted Vascugel into Shire's regenerative medicine unit alongside Dermagraft (acquired via Advanced BioHealing in 2011), giving Shire a complementary cell-therapy portfolio addressing diabetic foot ulcers and dialysis access — a logical pairing given ~40% diabetes overlap in ESRD. Vascugel ultimately did not reach approval; Shire divested its regenerative medicine unit in 2014.

Related deals — scored

DealYearValueOutcome
Shire plc / Pervasis Therapeutics, Inc. (this deal)2012$200M18
Shire plc / Dyax Corp.2016$5.9B89
Shire plc / New River Pharmaceuticals Inc.2007$2.6B88
Shire plc / Jerini AG2008$521M85
Shire plc / NPS Pharmaceuticals2015$5.2B78
Shire plc / Baxalta Inc.2016$32.0B77
Shire plc / ViroPharma Incorporated2013$4.2B58

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