Isis Earns $5 Million in Milestone Payment from GSK for Advancement of
CARLSBAD, Calif., Nov. 15, 2013
CARLSBAD, Calif., Nov. 15, 2013 /PRNewswire/ --Isis Pharmaceuticals, Inc.
(NASDAQ: ISIS) announced today that it has earned a $5 million milestone
payment from GlaxoSmithKline (NYSE: GSK) related to the designation of
ISIS-GSK4[Rx ]as a development candidate. ISIS-GSK4[Rx] is an antisense drug
designed to treat an undisclosed ocular disease.
"Our collaboration with GlaxoSmithKline has been very productive resulting in
three novel antisense drugs in our pipeline," said B. Lynne Parshall, chief
operating officer at Isis. "We look forward to advancing ISIS-GSK4[Rx] into
the clinic and providing more information on the target and disease
opportunity, which we are very excited about."
As a part of the alliance, Isis is eligible to earn additional pre-licensing
milestone payments from GlaxoSmithKline as ISIS-GSK4[Rx] advances. Isis will
develop ISIS-GSK4[Rx] to Phase 2 proof-of-concept, at which time
GlaxoSmithKline has an option to exclusively license it. Isis is also
eligible to receive double-digit royalties on sales of ISIS-GSK4[Rx].
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 31 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 for the
treatment of patients with HoFH. 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 STATEMENT
This press release includes forward-looking statements regarding Isis'
strategic alliance with GlaxoSmithKline and the discovery, development and
therapeutic potential of ISIS-GSK4[Rx] for the treatment of an undisclosed
ocular disease. 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, 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., Vice President, Corporate Communications and
Investor Relations, 760-603-2741, or Amy Blackley, Ph.D., Associate Director,
Corporate Communications ,760-603-2772
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