Shire gains rights to P-321 for ophthalmic indication

In a further move to expand its eye-care business, Ireland-headquartered Shire (LSE: SHP) has entered into an agreement for exclusive worldwide rights to develop and commercialize P-321.

Shire will lead development of privately-held Parion Sciences’ 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 II 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, P-321 is a novel molecule that is believed to address dry eye disease by inhibiting ENaC, which is thought to block the absorption of tears, and help keep the ocular surface hydrated; current prescription treatments target the effects of ocular inflammation.