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Isis Reports Financial Results and Highlights for 2012
Date:2/28/2013

  • Isis entered into an alliance with Biogen Idec to develop and commercialize a drug to treat myotonic dystrophy.  Isis received a $12 million upfront payment and is eligible to receive up to an additional $259 million in a licensing fee and milestone payments.  Isis is also eligible to receive double-digit royalties on product sales.
  • Isis entered into an alliance with Biogen Idec to discover and develop antisense drugs against three targets to treat neurological or neuromuscular disorders.  Isis received a $30 million upfront payment and is eligible to receive up to another $200 million in a license fee and regulatory milestone payments per program.  Isis is also eligible to receive double-digit royalties on product sales for each drug. 
  • Isis formed a new strategic alliance with AstraZeneca to discover and develop antisense drugs against five cancer targets, which included a license to develop and commercialize ISIS-STAT3Rx.
  • The agreement comprises $31 million in upfront and near-term payments, including a $25 million payment Isis has received followed by a $6 million payment Isis is eligible to receive in the second quarter of 2013 assuming the research program is continuing.  Isis is also eligible to receive milestone payments, license fees and royalties.
  • Isis added the first drug from its research collaboration, ISIS-AZ1Rx, to the pipeline.
  • Isis and GlaxoSmithKline amended the clinical development plan and financial terms relating to ISIS-TTRRx to support an accelerated development plan for the drug.  As a result of the revised agreement, Isis received a $2.5 million upfront payment.
  • Isis received a $7.5 million milestone payment upon initiation of the Phase 2/3 study for ISIS-TTRRx. 
  • Isis is also eligible to earn an additional $50 million in pre-licensing milestone payments to support the ISIS-TTR
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    • SOURCE Isis Pharmaceuticals, Inc.
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