Spun out of Verus Pharmaceuticals Inc. in 2008 to focus on developing oral budesonide suspension (OBS) for eosinophilic esophagitis (EoE) in children and adults, Meritage Pharma Inc. has brought the compound to the brink of phase III and found a buyer in Shire plc, which is paying $70 million up front plus development and regulatory milestone rewards as high as $175 million to acquire the company.