Shire Licenses Parion’s P-321 for Dry Eye Disease

May 12, 2017: By Joan McKenna

ShireShire has signed an exclusive global licensing agreement to develop and commercialize Parion Sciences’ P-321 for dry eye disease in adults, the two companies announced May 1.

P-321 is an epithelial sodium channel (ENaC) inhibitor in Phase II development as a topical treatment to address tear volume deficiency and promote ocular surface healing.

Shire will make an initial $20 million up-front payment, plus a potential near-term milestone payment of $20 million, to lead development of P-321.

Parion is entitled to additional milestone payments, and the deal has a potential total value of $535 million.

Parion, of Durham, NC, has the option to co-fund development through later stages in exchange for royalties. In addition, Parion has the option to co-fund and benefit from commercialization.

Shire, headquartered in Dublin, launched Xiidra for dry eye disease—its first ophthalmic product—in August 2016.

 

Need Deeper Analysis? Sign up for Market Scope's monthly newsletter to get in-depth coverage of the ophthalmic market, including quarterly procedure volumes based on survey data and meeting coverage from around the world.

Recent Ophthalmic News

US FDA Grants De Novo Request for IDx-DR’s AI Diagnostic System for Diabetic Retinopathy

Allergan Launches TrueTear Intranasal Neurostimulation Device for Dry Eye

Novartis Acquires AveXis, Gene Therapy Platform for $8.7 Billion

Samsung, Biogen Reach Deal with AbbVie over Humira Biosimilar

EyePoint Secures Two US Patents for DEXYCU

SightLife Surgical Rebrands as CorneaGen, Offers New Products

Omidria Earns Listing on VA Formulary, Regains CMS Pass-Through Status

Rayner Launching 600C Monofocal Aspheric IOL in US

LENSAR Laser System Receives 510(k) Clearance for Corneal Pockets, Flaps

EyeGate Completes Enrollment, Receives Milestone Payment for Phase III Study of EGP-437 in Anterior Uveitis

SAV-IOL Seeks $20M in Financing for Active Intraocular Lens Concept with Real-Time Autofocus

AGTC Completes Enrollment for Phase I/II Study of Gene Therapy for X-linked Retinoschisis

Robert Greenberg, MD, PhD, Resigns from Second Sight

US FDA Requires RegeneRx to Conduct Third Phase III Trial for Dry Eye Candidate RGN-259

Stem Cell Implant Yields Positive Results in Phase I/II Study in Dry AMD

Drug Companies Petition Supreme Court to Hear Case Challenging Eye Drop Size

Appeals Court Rules in Favor of Alcon in Suit Brought by Elenza over EAIOLs

ThromboGenics’ THR-137 Demonstrates Safety, Tolerability in Phase I/II Study in DME

GenSight Biologics’ LHON Candidate Improves Eyesight, Fails to Outpace Sham in Phase III Trial

I-MED Pharma’s I-PEN Receives Regulatory Approval in Colombia, Argentina

Coming soon

2018 China Ophthalmic Market Report: An Analysis for 2017 to 2023