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Dec 10, 2012

Isis Gets More Money from Biogen Idec

  • Biogen Idec and Isis Pharmaceuticals will work together to discover and develop antisense drugs against three undisclosed targets to treat neurological or neuromuscular disorders. Under terms of the agreement, Isis will receive an up-front 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 development milestone payments to support R&D prior to Biogen Idec exercising its option to license each program. Biogen Idec has the option to license a drug from each of the three programs through the completion of Phase II trials. Isis could receive up to another $200 million in license fee and regulatory milestone payments per program.

    In addition, Isis will receive double-digit royalties on sales of drugs. Isis will be responsible for development of the drugs through the completion of the initial Phase II clinical trial, with Biogen Idec providing advice and assistance on research and the clinical trial design and conduct and regulatory strategy for each program. If Biogen Idec exercises its option, it will assume global development, regulatory, and commercialization responsibilities.

    The firms inked two other collaborations with each other this year. In January, Biogen Idec paid Isis $29 million up front for a deal centered on development and commercialization of Isis’ Phase I-stage antisense candidate for the treatment of spinal muscular atrophy, ISIS-SMNRX. Then in June, Biogen Idec paid Isis another $12 million as part of an agreement focused on the development of an antisense drug for treating myotonic dystrophy type 1.


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