Date: 2017-05-01
Type of information: Licensing agreement
Compound: P-321
Company: Shire (UK - USA) Parion Sciences (USA - NC)
Therapeutic area: Ophtalmological diseases
Type agreement: licensing - development - commercialisation
Action mechanism:
- epithelial sodium channel inhibitor. P-321 is a novel small molecule inhibitor of ENaC (epithelial sodium channel), which is thought to block the absorption of tears, and help keep the ocular surface hydrated. Based on pre-clinical models of dry eye disease, ENaC inhibitors are believed to have the potential to restore or improve tear volume on the ocular surface.
Disease: dry eye disease
Details:
- • On May 1, 2017, Shire and Parion Sciences announced they have entered into an agreement granting Shire exclusive worldwide rights to develop and commercialize P-321. Shire will lead development of P-321, an investigational epithelial sodium channel (ENaC) inhibitor for the potential treatment of dry eye disease in adults, with the opportunity for Parion to co-fund.
- P-321 is a Phase 2 compound being developed to address tear volume deficiency and promote ocular surface healing. While further clinical trials are needed to fully evaluate its safety profile and efficacy,
Financial terms:
- While specific terms of the deal were not disclosed, Shire will make an initial $20 million upfront license payment with an additional $20 million payment based on the achievement of a near term development milestone. Parion will be entitled to receive additional potential milestone payments, with a total potential deal value of up to $535 million. Parion has the option to co-fund through additional stages of development in exchange for enhanced tiered double-digit royalties. In addition, Parion has the option to co-fund commercialization activities and participate in the financial outcome from those activities.
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Is general: Yes
