Parion Sciences and Gilead Sciences entered into an alliance worth $146 million focused on P-680, an epithelial sodium channel (ENaC) inhibitor discovered by Parion.
Gilead will provide an upfront payment of $5 million for worldwide commercialization rights to P-680 for the treatment of pulmonary diseases including cystic fibrosis (CF), chronic obstructive pulmonary disease (COPD), and non-CF bronchiectasis. The company will also make a $5-million investment in Parion.
Additionally, Gilead will pay Parion up to $136 million upon achievements of certain milestones. Parion will also be eligible to receive up to double-digit royalties based on potential future product sales.
The companies also have agreed to collaborate on a research program to identify other ENaC blocker-based drug candidates utilizing Parion’s ENaC-based chemistry platform. Gilead will supply research funding. Parion will perform the IND-enabling studies for P-680 and will transition development responsibilities to Gilead during the Phase I trial period.