Parion licenses its ENaC inhibitor to Gilead in deal worth up to $164M, gets $5M up front

Gilead Sciences has entered into an exclusive licensing and co-development agreement with fellow USA-based Parion Sciences focused on P-680, an epithelial sodium channel (ENaC) inhibitor discovered by the latter, a privately-held, development-stage drugmaker dedicated to treating serious diseases resulting from the failure of the body's mucosal defenses.

The agreement grants Gilead 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. In addition, the companies will collaborate on a research program to identify other promising ENaC blocker-based drug candidates utilizing Parion's proprietary ENaC-based chemistry platform.

According to the terms of the deal, Gilead will provide an upfront payment of $5.0 million for the license and make an additional $5.0 million investment in Parion. Furthermore, under the license, Gilead will supply research funding and may make payments upon achievements of certain milestones resulting in a potential deal value of approximately $146.0 million.