Parion Sciences: Shire, Parion Ink Deal for up to $535M to Develop Phase II-Stage Dry Eye Therapy

Shire negotiated exclusive global rights to develop Parion Sciences' Phase II-stage epithelial sodium channel (ENaC) inhibitor P-321 for the potential treatment of dry eye. Parion could earn up to $535 million through the deal, including an initial $20 million up front license fee, and potentially $20 million in near-term development milestones. Parion also retains separate options to co-fund certain stages of P-321 development, and to co-fund commericialization, in return for additional tiered double-digit royalties, and financial benefits associated with commercialization. "Advancing P-321 with Shire, an emerging global leader in ophthalmics, offers the expertise and resources to move this promising potential therapy for dry eye sufferers forward," said Paul Boucher, president and CEO at Parion, which is based in Durham, NC. "This collaborative license agreement enables us the opportunity to contribute and participate in P-321's success, while continuing our drive to progress Parion's pipeline of novel therapies." P-321 ...