Isis Pharmaceuticals Earns $6 Million Payment from AstraZeneca
CARLSBAD, Calif., June 6, 2013
CARLSBAD, Calif., June 6, 2013 /PRNewswire/ -- Isis Pharmaceuticals, Inc.
(NASDAQ: ISIS) announced today that it has earned a $6 million payment from
AstraZeneca related to continuation of the research collaboration between Isis
and AstraZeneca to discover and develop novel antisense therapeutics to treat
cancer. In addition to the research collaboration, which includes three
cancer targets, Isis and AstraZeneca are developing two antisense drugs,
ISIS-AR[Rx] and ISIS-STAT3[Rx], discovered by Isis and licensed to AstraZeneca
for the treatment of cancer.
"We are pleased to be working with AstraZeneca, a global leader in oncology,
and are already benefiting from our collaborative efforts. In just six
months, we have selected a new development candidate, ISIS-AR[Rx], to move
forward into clinical development to treat patients with prostate cancer and
initiated two clinical studies on ISIS-STAT3[Rx] in patients with advanced
lymphomas and liver cancer. We are also making progress selecting the next
three oncology targets that we and AstraZeneca will focus our research efforts
toward," said B. Lynne Parshall, chief operating officer at Isis. "The
success of this collaboration is an example of how our partnering strategy
enables us to develop a broad pipeline of antisense drugs in a variety of
therapeutic areas. Our oncology franchise consists of five antisense drugs in
development to treat patients with a variety of cancers. We look forward to
continuing to expand our cancer franchise with AstraZeneca as we move our
research programs forward toward development."
In December 2012, Isis entered into a collaboration with AstraZeneca to
discover and develop antisense drugs to treat cancer. The collaboration
combines AstraZeneca's experience and expertise in developing anti-cancer
agents with Isis' antisense technology platform to broaden Isis' cancer
franchise. With the $6 million payment, Isis has earned $41 million in
upfront and milestone payments from AstraZeneca and is eligible to earn
additional milestone payments as the collaboration progresses and royalties on
sales of drugs resulting from the collaboration.
ABOUT ISIS PHARMACEUTICALS, INC.
Isis is exploiting its leadership position in antisense technology to discover
and develop novel drugs for its product pipeline and for its partners. Isis'
broad pipeline consists of 28 drugs to treat a wide variety of diseases with
an emphasis on cardiovascular, metabolic, severe and rare diseases, and
cancer. Isis' partner, Genzyme, is commercializing Isis' lead product,
KYNAMRO™, in the United States for the treatment of patients with HoFH.
Genzyme is also pursuing marketing approval of KYNAMRO in other markets.
Isis' patents provide strong and extensive protection for its drugs and
technology. Additional information about Isis is available at
ISIS PHARMACEUTICALS' FORWARD-LOOKING STATEMENT
This press release includes forward-looking statements regarding Isis'
strategic alliance with AstraZeneca and the discovery and development of
antisense drugs to treat cancer. Any statement describing Isis' goals,
expectations, financial or other projections, intentions or beliefs, including
the commercial potential of KYNAMRO, 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, 2012, 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.
In this press release, unless the context requires otherwise, "Isis,"
"Company," "we," "our," and "us" refers to Isis Pharmaceuticals and its
Isis Pharmaceuticals® is a registered trademark of Isis Pharmaceuticals, Inc.
KYNAMRO™ is a trademark of Genzyme Corporation.
SOURCE Isis Pharmaceuticals, Inc.
Contact: D. Wade Walke, Ph.D., Executive Director, Corporate Communications
and Investor Relations, 760-603-2741; Amy Blackley, Ph.D., Associate Director,
Corporate Communications, 760-603-2772
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