Isis Enters Broad Collaboration With Ortho-McNeil, Inc. for the Discovery, Development and Commercialization of Antisense Drugs to Treat Metaboli... (on sales. Isis could also receive milest...)

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Isis Enters Broad Collaboration With Ortho-McNeil, Inc. for the Discovery, Development and Commercialization of Antisense Drugs to Treat Metabolic Diseases

Date:9/13/2007

on sales. Isis could also receive milestones and royalties on the successful development and regulatory approvals of additional drugs discovered as part of the collaboration. The agreement is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Prior to closing of the transaction, Isis plans to purchase the equity in Symphony GenIsis, Inc. and reacquire the intellectual property related to the GCGR and GCCR programs as well as regain full ownership of ISIS 301012, the Company's lipid-lowering drug targeting Apolipoprotein B-100.

"We look forward to working with Ortho-McNeil, Inc. and J&JPRD to advance our glucagon receptor and glucocorticoid receptor drugs through the clinic and to develop additional drugs against other promising targets," said Lynne Parshall, J.D., Executive Vice President and Chief Financial Officer, Isis Pharmaceuticals. "This collaboration represents another major step for us in capturing value from our achievements in creating a new drug discovery platform technology and discovering commercially attractive antisense drugs."

"This collaboration has been enabled by the productivity of our metabolic drug discovery program, which has evaluated more than 120 targets in animal models using antisense drugs," said Jeffrey Jonas, M.D., Executive Vice President, Isis Pharmaceuticals. "Both ISIS 325568 and ISIS 377131 have broad and exciting therapeutic profiles that include lowering of blood lipids and body fat, in addition to significant glucose-lowering effects. These drugs have demonstrated robust effects in extremely diabetic and hyperlipidemic animals and have demonstrated a unique and preferential distribution to tissues such as liver and fat, thereby potentially minimizing the systemic side effects that would be expected with traditional approaches against the same gene targets. We are enthusiastic about our research collaboration, which should allow us to discover additional drugs against novel targets, thereby
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Isis Enters Broad Collaboration With Ortho-McNeil, Inc. for the Discovery, Development and Commercialization of Antisense Drugs to Treat Metaboli...(on sales. Isis could also receive milest...)