Fibrotech is an Australian biopharmaceutical company developing a new class of drugs to prevent a massive health burden associated with fibrosis (tissue scarring). The Company develops novel anti-fibrotic drug candidates for the treatment of the fibrosis prevalent in such chronic conditions as chronic kidney disease, chronic heart failure, pulmonary fibrosis and arthritis.
Fibrotech’s lead product FT011 is an antifibrotic to prevent the tissue fibrosis associated with diabetic nephropathy and is currently undergoing safety testing in a Phase I clinical trial. Diabetic nephropathy is the leading cause of end-stage renal disease, a severe medical condition that can only be managed with dialysis or kidney transplantation. There are several products in preclinical development selected from over 150 analogues, many of which are novel chemical entities and are markedly improved antifibrotic agents.
Fibrotech was founded in 2006 and is located in Melbourne Australia.
Fibrotech acquired by Shire for US$75M plus milestones - Fibrotech, announced that it has reached an agreement with Shire plc (LSE: SHP, NASDAQ: SHPG), the global specialty biopharmaceutical company, under which Shire has agreed to purchase Fibrotech for an upfront payment of $75M and certain contingent payments based on the achievement of development and regulatory milestones. More details..