26th Mar 2015 12:16
LONDON (Alliance News) - Shire PLC said Thursday it has entered into a three-year research collaboration for rare diseases with Cincinnati's Children's Hospital Medical Centre.
The collaboration will be focused on discovering and developing new treatments for rare diseases with high unmet medical need. Shire said that the hospital has expertise in areas that align with its own areas of focus, including rare diseases, gastroenterology, nephrology and neurology.
Under the terms of the collaboration Shire will make an undisclosed initial upfront payment to the hospital, and will be able to fund and support some research programmes. After the completion of each programme it will have an option to enter into a licensing deal, and it will be responsible for any further development and commercialisation for any candidates that arise from the collaboration.
Shares in Shire are trading up 1.9% at 5,296.56 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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