Isis earns milestone payments from GlaxoSmithKline

US biotech firm Isis Pharmaceuticals (Nasdaq: ISIS) says that UK pharma giant GlaxoSmithKline (LSE: GSK) has added a development candidate, ISIS-GSK3Rx, to its collaboration with Isis, under a strategic 2010 alliance on Isis’ antisense drug discovery platform worth a potential $1.5 billion to the US firm, that was later amended (The Pharma Letter November 6, 2012).

As a result, Isis earned $7 million in milestone payments associated with the advancement of this program. ISIS-GSK3Rx is an antisense drug designed to inhibit the production of an undisclosed target to treat a common viral infection. Isis will develop ISIS-GSK3Rx to Phase II proof-of-concept, after which GSK has an exclusive option to in-license the program and further develop and commercialize the asset.

"We are pleased with the progress of our collaboration with GSK and look forward to achieving further successes, including advancing ISIS-GSK3Rx into clinical studies. The benefit of GSK's expertise enables us to further expand the breadth of our pipeline into areas where effective new therapies are needed," said Lynne Parshall, chief operating officer of Isis.