Manhunt for gunman after teens shot

A gunman is on the loose after two teenage boys were seriously injured in a shooting in Melbourne.

Police believe multiple shots were fired at a group of youths on Palmer St, Colllingwood at about 1am on Friday.

A 15-year-old and 17-year-old boy were found with gunshot wounds shortly afterwards.

The boys, both from Collingwood, suffered serious injuries and were taken to hospital.

An investigation into the circumstances of the incident has been launched.

Anyone with information has been urged to come forward.