BRIEF — ProQR buys in Ionis drug

Dutch company ProQR Therapeutics has announced the signing of an agreement with Ionis Pharmaceuticals to license QR-1123, an RNA medicine for autosomal dominant retinitis pigmentosa (adRP) caused by the P23H mutation in the rhodopsin gene.

ProQR was granted an exclusive worldwide license to QR-1123 and relevant patents in exchange for an upfront payment in ordinary shares worth a total of $2.5 million. Future milestone payments and royalties will also be due.

The company expects to start a Phase I/II clinical trial in patients with adRP in 2019, pending submission and clearance of the IND application by the US Food and Drug Administration.