Biogen Idec and Isis Pharma in up to $230 million antisense deal

11 December 2012

USA-based companies Biogen Idec (Nasdaq: BIIB) and Isis Pharmaceuticals (Nasdaq: ISIS) have entered into a global collaboration agreement under which they will discover and develop antisense drugs against three undisclosed targets to treat neurological or neuromuscular disorders. Biogen Idec and Isis are also developing antisense drugs to treat spinal muscular atrophy and myotonic dystrophy type 1 under previously established collaborations.

Under the terms of the deal, Isis will receive an upfront payment of $30 million and is responsible for the discovery of a lead antisense drug for each of the three undisclosed targets. Isis is eligible to receive substantial development milestone payments to support research and development of each program prior to the exercise by Biogen Idec of its option to license each program.

Further $200 million in license fee and milestones

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