Ionis out-licenses inotersen in up to $1.7 billion deal

US biotechs Ionis Pharmaceuticals (Nasdaq: IONS) and Akcea Therapeutics (Nasdaq; AKCA) today announced an exclusive, worldwide license by Ionis to affiliate Akcea for inotersen and AKCEA-TTR-LRx, formerly IONIS-TTR-LRx, in a transaction potentially worth up to as much as $1.7 billion.

Inotersen was previously licensed to GlaxoSmithKline (LSE: GSK), but in August last year the UK pharma major pulled out of the collaboration on inotersen and IONIS-FB-LRx. GSK had paid $35 million seven years prior to the termination, and meantime has kicked in more than $50 million for a clinical program.

This transaction strengthens the companies' ability to successfully launch inotersen upon approval by leveraging the commercial preparations carried out by Ionis along with Akcea's commercial infrastructure and capabilities. The newly-combined Akcea team is preparing to launch inotersen in the U.S. and EU following planned approvals in mid-2018 to treat people with hereditary transthyretin amyloidosis, or hATTR, a systemic, progressive and fatal disease.