May 1 (Reuters) - Shire Plc:
* Shire and Parion Sciences enter into a collaborative license agreement to advance p-321 for ophthalmic indications
* Demonstrates ongoing commitment to innovation in ophthalmics for Shire
* Shire Plc will make initial $20 million upfront license payment with an additional $20 million payment based on milestone
* Parion will be entitled to receive additional potential milestone payments, with a total potential deal value of up to $535 million
* Parion has option to co-fund through additional stages of development in exchange for enhanced tiered double-digit royalties.
* Parion also has option to co-fund commercialization activities and participate in financial outcome from those activities. Source text for Eikon: Further company coverage: