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Isis Pharmaceuticals to Receive $10 Million From OncoGenex' License of OGX-011 to Teva
Date:12/21/2009

of the upfront monies paid. This constitutes 30% of the $20 million license fee and 30% of the premium on Teva's equity investment in OncoGenex as well as a portion of the $30 million prepaid development costs that OncoGenex will subsequently contribute to the development of OGX-011. Isis will also receive 30% of the up to $370 million in milestone payments OncoGenex is eligible to receive in addition to 5.5 - 7% royalties on all sales of OGX-011.

ABOUT ISIS PHARMACEUTICALS, INC.

Isis is exploiting its expertise in RNA to discover and develop novel drugs for its product pipeline and for its partners. The Company has successfully commercialized the world's first antisense drug and has 21 drugs in development. Isis' drug development programs are focused on treating cardiovascular, metabolic and severe neurodegenerative diseases and cancer. Isis' partners are developing antisense drugs invented by Isis to treat a wide variety of diseases. Isis and Alnylam Pharmaceuticals are joint owners of Regulus Therapeutics Inc., a company focused on the discovery, development and commercialization of microRNA therapeutics. Isis also has made significant innovations beyond human therapeutics resulting in products that other companies, including Abbott, are commercializing. As an innovator in RNA-based drug discovery and development, Isis is the owner or exclusive licensee of over 1,600 issued patents worldwide. Additional information about Isis is available at www.isispharm.com.

ISIS FORWARD LOOKING STATEMENT

This press release includes forward-looking statements regarding Isis' business, its collaboration with OncoGenex Pharmaceuticals, its financial and business development activities, and the develo
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SOURCE Isis Pharmaceuticals, Inc.
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