Shield Therapeutics PLC (STX) has updated on its commercialisation plan for the US market for its oral treatment Feraccru, (Accrufer in the US) to treat iron deficiency. While the company has engaged with a range of potential commercial partners for Accrufer, it is unlikely to conclude a deal in 2020 as planned, although STX remains confident that there is still room for negotiating on advantageous terms.

STX has moved to provide financial headroom to the end of 2021 via debt financing, initially obtaining c. £4mln from two key shareholders. Its strategic options now include an independent launch in the US facilitated by a lean infrastructure. With a successful market strategy, this could enable STX to recoup substantially greater medium-to-long term returns on Accrufer, in an iron replacement market worth up to US$1bn, than via a profit share or on a royalty basis.

The company is confident that Accrufer’s prospects remain attractive given that it is well-tolerated, has comparable efficacy to standard-of-care, and particularly given that it can be administered safely in a home setting.