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Isis, AstraZeneca in cancer deal

December 12, 2012 2:54 AM UTC

Isis Pharmaceuticals Inc. (NASDAQ:ISIS) and AstraZeneca plc (LSE:AZN; NYSE:AZN) partnered to discover antisense therapeutics against four undisclosed cancer targets from AstraZeneca. Isis also granted AstraZeneca exclusive rights to develop and commercialize ISIS-STAT3Rx, an antisense inhibitor of signal transducer and activator of transcription 3 (STAT3) in Phase II testing for advanced lymphomas.

Isis will receive $31 million in upfront and near term payments and is eligible for up to $330 million in milestones, plus double-digit royalties. On a conference call to discuss the deal, Isis said it expects to receive up to $75 million in milestones in the next two years, which includes up to $50 million in milestones upon meeting certain undisclosed success criteria for an ongoing Phase II trial of ISIS-STAT3Rx. AstraZeneca is responsible for all development of ISIS-STAT3Rx after completion of the trial, which the pharma said it considers to be a Phase Ib trial. Isis will be responsible for preclinical development of compounds against AstraZeneca's targets, after which AstraZeneca has an option to license the programs. Isis was up $0.19 to $9.61 on Tuesday. ...