of an antisense drug candidate to advance into development.
o OncoGenex reported encouraging Phase 2 data of OGX-011, an antisense
drug in clinical studies in patients with advanced prostate or lung
o Antisense Therapeutics licensed TV-1102 (formerly ATL1102), an
antisense drug in Phase 2 clinical development for patients with
multiple sclerosis, to Teva Pharmaceuticals.
o Altair Therapeutics has advanced AIR 645, an antisense drug
discovered by Isis and licensed to Altair in 2007, into Phase 1
studies. AIR 645 is the first inhaled antisense drug to enter
clinical development for the treatment of asthma.
o Lilly has advanced an antisense drug, LY2181308, which targets
survivin for the treatment of cancer, into Phase 2 trials.
-- Ibis Biosciences
o Ibis, Isis' majority-owned subsidiary, has developed and is
commercializing its biosensor technology to revolutionize the way
that infectious disease pathogens are identified. At the beginning
of the year, Ibis completed a transaction with Abbott in which:
-- Abbott invested $20 million in Ibis and now owns 10.25 percent
equity in Ibis at a post money valuation of $215 million, with
the option to invest an additional $20 million in Ibis by
July 31, 2008.
-- Abbott also acquired the option to purchase the remaining
shares of Ibis for a total purchase price of $215 to $230
million. If Abbott exercises its option to acquire Ibis, Isis
will receive earn out payments tied to the achievement of
specific cumulative sales.
-- Ibis entered into a distribution relationship under which
Abbott will be selling Ibis products.
|SOURCE Isis Pharmaceuticals, Inc.|
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