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Shield Therapeutics CEO hails positive year as European sales grow 70%

Published: 02:24 15 Jan 2021 EST

Shield Therapeutics PLC -

Shield Therapeutics PLC (LON:STX) chief executive Tim Watts hailed 2020 as a “positive year” for the company - a period in which European sales volumes of its breakthrough iron deficiency drug Feraccru grew by 70% year-on-year.

He added that discussions with potential US out-licensing partners continued, but added that preparations were also being made for a “Shield-led” launch of the product, which is called Accrufer in the States.

“In the US, our knowledge of the iron deficiency market and the great opportunity for Accrufer has developed massively during the year such that we are now evaluating a Shield-led launch in the US as an alternative to out-licensing the product,” said Watts in a statement. 

“We aim to give clarity on the US by the end of March and I am sure that 2021 will be a transformational year for Shield," he added.

In what was a busy year, Shield’s partner ASK Pharm filed an investigational new drug application for Feraccru in China.

Shield, meanwhile, completed the first stage of a paediatric study of its drug. A larger assessment will take place in the middle of this year that could potentially herald a label extension.

Separately, generics specialist Teva withdrew its challenge to Shields European patents.

Trading was in line with expectations as sales grew to £9.4mln in 2020 from £700,000 a year earlier. Shield had £2.9mln in the bank as at the end of last year, and a shareholder loan facility extends the drug developer’s ‘cash runway’ out to the end of the year.

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