Ionis could earn $330 million in new license fee and milestones
California, USA-based Ionis Pharmaceuticals (Nasdaq: IONIS) has expanded its collaboration with Anglo-Swedish pharma major AstraZeneca (LSE: AZN) in a deal that could see it earn as much as $330 million including success-based milestones.
The news had little impact on Ionis’ share price, which initially edged up 1.4% but was virtually flat by 11.00 am EST.
Specifically, Ionis (formally known as Isis Pharma) has out-licensed IONIS-AZ5-2.5Rx (AZD2373), a ‘Generation 2.5’antisense drug, discovered by Ionis and designed to inhibit an undisclosed target to treat a genetically associated form of kidney disease. AstraZeneca will be responsible for developing and commercializing IONIS-AZ5-2.5Rx.
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