London and Nasdaq-listed drugs company Shire has committed to starting a corporate venturing activity and has agreed its first, as yet undisclosed investment.
Gwen Melincoff, senior vice-president of business development at Shire, by email said: "With regard to Shire’s corporate venturing – while still a work in progress, there is management commitment to doing this."
She added the first corporate venturing deal had been completed just before Christmas.
Shire has developed through organic growth on attention deficit hyperactivity disorder, human genetic therapies and gastrointestinal diseases and acquisitions concentrated on new areas, such as its purchase of Movetis in November.
Corporate venturing is understood to complement Shire’s existing in-licensing, merger and acquisition efforts.