Building again in rare diseases, Shionogi pays $2B for IntraBio

Shionogi will continue building its rare disease portfolio by buying IntraBio for $2 billion, adding a drug for which the privately held biotech has won approval for two indications.

Assuming its completion, the deal will give Shionogi & Co. Ltd. (Tokyo:4507) rights to Aqneursa levacetylleucine (IB1001), a modified N-acetyl-L-leucine amino acid therapy that targets hallmark patterns of neurological dysfunction and degeneration...