- Isis will own 18 percent of Altair and will receive milestones and
royalties on antisense drugs developed by Altair
- Altair to conduct clinical development of ISIS 369645 for asthma
CARLSBAD, Calif. and SAN FRANCISCO, Oct. 16 /PRNewswire-FirstCall/ -- Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) and Thomas, McNerney & Partners, LLC, announced today that Altair Therapeutics Inc., a new venture capital-funded biotechnology company, has been created to focus on the discovery, development and commercialization of Isis' antisense drugs to treat asthma and other respiratory conditions. Isis has granted an exclusive worldwide license to Altair for the development and commercialization of ISIS 369645, an inhaled inhibitor of the IL-4/IL-13 signaling pathways for the treatment of asthma. Isis and Altair will also be collaborating to discover drugs directed to other promising targets for the treatment of respiratory conditions. Isis will own 18 percent of Altair in the form of preferred stock. Furthermore, as ISIS 369645 and other drugs arising out of the research collaboration progress, Altair will pay Isis development milestones and royalties.
"Altair is assembling a focused team of experts in both antisense drug
discovery and development and respiratory conditions to advance antisense
drugs, including ISIS 369645," said Jeff Jonas, M.D., Executive Vice
President of Isis. "Our robust antisense technology allows us to continue
to discover and validate many more drug candidates than we can advance
ourselves. Altair is the most recent example of our satellite company
strategy; through this strategy we expand therapeutic applications for
antisense drugs while focusing our internal resources in
|SOURCE Isis Pharmaceuticals, Inc.|
Copyright©2007 PR Newswire.
All rights reserved