Shire PLC, an Irish drug company that runs its Human Genetic Therapies division from Lexington, and Boston Children’s Hospital said Tuesday that they will collaborate on researching treatments for rare pediatric diseases.

Under the terms of the three-year agreement, Shire will make an initial upfront payment to Boston Children’s and will have the opportunity to fund selected research programs, the two companies said in a press release. The amount of the upfront payment was not disclosed in the release.