Shire and Foundation Fighting Blindness announce research alliance

Shire has announced a collaboration with the Foundation Fighting Blindness to develop a new therapy for a rare eye disease affecting children and adolescents.

The organisations will be aiming to create a novel treatment for autosomal dominant retinitis pigmentosa, a genetic disease that leads to the progressive loss of peripheral vision, for which no treatment options currently exist.

Expert knowledge and scientific insights will be provided by the foundation, as well as pertinent clinical information, while it will also provide counsel on the preclinical and clinical development of various Shire compounds.

Shire, in exchange, will compensate the foundation for its expertise in early-stage drug discovery and development, as well as making available its own understanding and experience with the submission of investigational new drug applications.

Albert Seymour, Shire's senior vice-president of global research and nonclinical development, said: "Both organisations have a strong, shared commitment to unearthing and developing innovative treatments in areas of significant, unmet medical need."

The company recently predicted solid mid-single digit earnings growth for 2015, based on its strong performance during the first quarter of the year.