Shire is paying $20 million up front to acquire rights to a drug that Parion Sciences has developed as a potential treatment for dry eye disease.
The deal calls for Shire (NASDAQ: SHPG) to take the lead on further work on P-321, a compound that Durham, NC-based Parion has tested in early-stage clinical trials. If the drug hits undisclosed milestones, Shire, which has its U.S. headquarters in Lexington, MA, could pay Parion up to $20 million more.
The drugs that are currently available for dry eye disease work by reducing inflammation in the eye. Parion is taking a different approach… Read more »
UNDERWRITERS AND PARTNERS
May 01, 2017 at 08:45PM
from Frank Vinluan
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