Biogen Idec and Isis Pharmaceuticals Announce Strategic Collaboration to
Advance Treatment of Neurological Disorders
--Biogen Idec and Isis to leverage antisense technology to accelerate
discovery and development of novel therapies--
--Isis to receive $100M upfront with potential future milestone payments and
license fees, plus royalties--
WESTON, Mass. and CARLSBAD, Calif., Sept. 9, 2013
WESTON, Mass. and CARLSBAD, Calif., Sept. 9, 2013 /PRNewswire/ -- Biogen Idec
(NASDAQ: BIIB) and Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) today announced
that the companies have entered into a broad, multi-year collaboration to
leverage antisense technology to advance the treatment of neurological
diseases. The agreement combines Biogen Idec's expertise in neurology with
Isis' leadership in antisense technology to develop novel therapies to treat
neurological disorders. This is the fourth collaboration between the two
companies in the last two years.
"This strategic alliance with Isis builds on our existing relationship and
combines the unique strengths of each partner to significantly advance the
treatment of serious neurological diseases," said Douglas E. Williams, Ph.D.,
Biogen Idec's executive vice president of research and development. "Antisense
is a validated technology that we believe will help build our pipeline of
antisense, small molecule and biologics programs, strengthening our leadership
Antisense technology is designed to alter a gene's function, silencing a
mutation or activating a gene to compensate for an underlying genetic defect.
When the genetic sequence of a gene is known to cause a disease, it is
possible to synthesize a strand of nucleic acid (DNA, RNA or a chemical
analogue) that binds to the messenger RNA (mRNA) produced by that gene and
effectively turn that gene "on" or "off."
As part of the six-year research collaboration, Biogen Idec will gain
exclusive rights to the use of Isis' antisense technology to develop therapies
for neurological diseases. Terms of this collaboration include:
oBiogen Idec will make an upfront payment of $100 million, a majority of
which will be reflected as R&D expense in Biogen Idec's third quarter
oIsis is eligible to receive milestone payments, license fees and royalty
payments for all treatments developed through this collaboration, with the
specific amount dependent upon the modality of the molecule advanced by
Biogen Idec. In the case of antisense molecules, the milestone payments
could be as much as $220 million, plus additional amounts related to the
cost of clinical trials conducted by Isis under the collaboration.
Biogen Idec and Isis will work closely together to select and validate
neurological disease targets and conduct drug discovery activities with the
goal of identifying clinical development candidates. Isis will be primarily
responsible for drug discovery and early development of antisense therapies,
while Biogen Idec will be responsible for the creation and development of
small molecule treatments and biologics. In each case, Biogen Idec will
determine the molecular modality best suited for advancement through clinical
development. Biogen Idec will also be responsible for later stage development
and commercialization of all drugs arising from the collaboration.
"We are pleased that Biogen Idec, a world leader in neurological diseases, has
selected antisense drug technology to fuel its neurology drug pipeline and are
pleased to expand our already successful relationship. Biogen Idec's access to
novel targets and contribution to research and development efforts should
enable us to identify, validate and advance a number of promising new
therapies. Combining our antisense drug discovery with Biogen Idec's expertise
in severe neurological diseases has already significantly enhanced the
development of our spinal muscular atrophy and myotonic dystrophy programs,"
said B. Lynne Parshall, chief operating officer at Isis Pharmaceuticals.
The collaboration announced today follows three previous collaborations
between Biogen Idec and Isis. In the first half of 2012, Isis and Biogen Idec
established collaborations to develop antisense drugs to treat spinal muscular
atrophy and myotonic dystrophy type 1. Later that same year, Isis and Biogen
Idec entered into a third collaboration to discover and develop antisense
drugs against three novel targets for neurological disorders.
Isis Conference Call
At 11:30 a.m. Eastern Time Monday, Sept. 9, 2013, Isis will conduct a live
webcast conference call to discuss its new strategic collaboration. Interested
parties may listen to the call by dialing 866-652-5200, or access the webcast
at www.isispharm.com. A webcast replay will be available for a limited time at
the same address.
About Biogen Idec
Through cutting-edge science and medicine,Biogen Idecdiscovers, develops and
delivers to patients worldwide innovative therapies for the treatment of
neurodegenerative diseases, hemophilia and autoimmune disorders. Founded in
1978,Biogen Idecis the world's oldest independent biotechnology company.
Patients worldwide benefit from its leading multiple sclerosis therapies, and
the Company generates more than$5 billionin annual revenues. For product
labeling, press releases and additional information about the Company, please
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 30 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 www.isispharm.com.
Biogen Idec Safe Harbor Statement
This press release contains forward-looking statements, including statements
about product development and commercialization. These forward-looking
statements may be accompanied by such words as "anticipate," "believe,"
"estimate," "expect," "forecast," "intend," "may," "plan," "will" and other
words and terms of similar meaning. You should not place undue reliance on
these statements. Drug development and commercialization involve a high degree
of risk. Factors which could cause actual results to differ materially from
current expectations include the risk that adverse safety events may occur,
regulatory authorities may require additional information or further studies,
or may fail to approve or may delay approval of any potential new therapy,
product reimbursement may be limited or unavailable, there may be problems
with manufacturing processes, intellectual property rights may not be
adequately protected, or we may encounter other unexpected hurdles. For more
detailed information on the risks and uncertainties associated with our drug
development and commercialization activities, please review the Risk Factors
section of our most recent annual or quarterly report filed with
theSecurities and Exchange Commission. These statements are based on current
beliefs and expectations and speak only as of the date of this press release.
We do not undertake any obligation to publicly update any forward-looking
Isis Pharmaceuticals' Forward-Looking Statement
This press release includes forward-looking statements regarding Isis'
strategic alliance with Biogen Idec, and Isis' research and development
opportunities in disease areas including neurological and neuromuscular
diseases. 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.
Isis Pharmaceuticals® is a registered trademark of Isis Pharmaceuticals, Inc.
Regulus Therapeutics™ is a trademark of Regulus Therapeutics Inc. KYNAMRO™ is
a trademark of Genzyme Corporation.
SOURCE Isis Pharmaceuticals, Inc.; Biogen Idec
Contact: MEDIA CONTACTS; Biogen Idec, Todd Cooper, Ph: (781) 464-3260,
firstname.lastname@example.org, Isis Pharmaceuticals, or, Amy Blackley,
Associate Director, Corporate Communications, Ph: (760) 603-2772, or, INVESTOR
CONTACTS; Biogen Idec, Carlo Tanzi, Ph.D., Ph: (781) 464-2442,
IR@biogenidec.com, or, Isis Pharmaceuticals, D. Wade Walke, Ph.D., Vice
President, Corporate Communications and Investor Relations, Ph: (760) 603-2741
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