CARLSBAD, Calif., Jan. 5, 2015 /TRENDINGGLOBALNEWS/ -- Isis Pharmaceuticals, Inc. (NASDAQ: ISIS)
today announced that the company has entered into a global
collaboration with Janssen Biotech, Inc. (Janssen) to discover and
develop antisense drugs to treat autoimmune disorders of the
gastrointestinal (GI) tract. The collaboration brings together Isis'
RNA-targeted technology platform and the expertise of Janssen in
autoimmune disorders and therapeutic formulation to discover and develop
antisense drugs that can be locally administered, including oral
delivery, to treat autoimmune disorders in the GI tract.
"We
are excited to be working with Janssen to apply our drug discovery and
development efforts in this therapeutic area. This collaboration
broadens the utility of our drug discovery technology to new targets in
the GI tract and expands the administration of antisense drugs to local
delivery, including oral delivery, to the gut," said B. Lynne Parshall,
chief operating officer at Isis Pharmaceuticals. "We are the leader in
RNA-targeted therapeutics and our innovation and the successes of our
pipeline drugs enable us to form collaborations, like this one, with
leaders in specific therapeutic areas. This partnering strategy ensures
that we have access to resources that support and enhance our drug
discovery efforts and also provides us with collaborators, like Janssen,
who are uniquely capable of conducting development, marketing and
commercial efforts for these drugs."
Under the terms of the agreement, which covers three programs, Isis will receive $35 million
in upfront payments, including a payment to initiate human lead
optimization on the first collaboration target. Isis is eligible to
receive nearly $800 million in
development, regulatory and sales milestone payments and license fees
for these programs. In addition, Isis will receive tiered royalties
that on average are double-digits on sales from any product that is
successfully commercialized. Janssen has the option to license a drug
from each of the programs once a development candidate is identified. If
Janssen exercises its option, it will assume global development,
regulatory and commercialization responsibilities.
ABOUT ISIS PHARMACEUTICALS, INC.Isis
is exploiting its leadership position in RNA-targeted technology to
discover and develop novel drugs for its product pipeline and for its
partners. Isis' broad pipeline consists of 34 drugs to treat a wide
variety of diseases with an emphasis on cardiovascular, metabolic,
severe and rare diseases, including neurological disorders, and cancer.
Isis' partner, Genzyme, is commercializing Isis' lead product, KYNAMRO®, in the United States
and other countries for the treatment of patients with homozygous FH.
Isis has numerous drugs in Phase 3 development in severe and rare and
cardiovascular diseases. These include ISIS-APOCIIIRx, a
drug Isis is developing to treat patients with severely high
triglycerides, such as patients with familial chylomicronemia syndrome;
ISIS-TTRRx, a drug Isis is developing with GSK to treat patients with the polyneuropathy form of TTR amyloidosis; and, ISIS-SMNRx,
a drug Isis is developing with Biogen Idec to treat infants and
children with spinal muscular atrophy, a severe and rare neuromuscular
disease. Isis' patents provide strong and extensive protection for its
drugs and technology. Additional information about Isis is available at
www.isispharm.com.
ISIS PHARMACEUTICALS' FORWARD-LOOKING STATEMENTThis
press release includes forward-looking statements regarding Isis'
alliance with Janssen, Isis' research, development and commercial
opportunities in developing antisense drugs to treat autoimmune diseases
in the gastrointestinal tract. Any statement describing Isis' goals,
expectations, financial or other projections, intentions or beliefs is a
forward-looking statement and should be considered an at-risk
statement. Such statements are subject to certain risks and
uncertainties, particularly those inherent in the process of
discovering, developing and commercializing drugs that are safe and
effective for use as human therapeutics, and in the endeavor of building
a business around such drugs. Isis' forward-looking statements also
involve assumptions that, if they never materialize or prove correct,
could cause its results to differ materially from those expressed or
implied by such forward-looking statements. Although Isis'
forward-looking statements reflect the good faith judgment of its
management, these statements are based only on facts and factors
currently known by Isis. As a result, you are cautioned not to rely on
these forward-looking statements. These and other risks concerning
Isis' programs are described in additional detail in Isis' annual report
on Form 10-K for the year ended December 31, 2013,
and its most recent quarterly report on Form 10-Q, which are on file
with the SEC. Copies of these and other documents are available from the
Company.
source: http://www.prnewswire.com
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