BioCentury
ARTICLE | Top Story

Biogen Idec, Isis in fourth antisense deal

September 10, 2013 12:28 AM UTC

Isis Pharmaceuticals Inc. (NASDAQ:ISIS) was up $3.89 (14%) to $31.81 on Monday after announcing it will receive $100 million up front from Biogen Idec Inc. (NASDAQ:BIIB) for an antisense discovery and development deal focused on neurological diseases. During a six-year research phase, the partners will use Isis' antisense technology to identify and validate targets against which they may develop antisense, small molecule or biologic therapies. Isis is eligible for license fees, milestones and royalties for any treatments developed; the amount of these payments depends on whether the treatment is antisense, a small molecule or a biologic. For each antisense therapy, Isis could receive up to $220 million in milestones, plus additional money related to the cost of clinical trials conducted by Isis.

Isis will be responsible for discovery and early development of antisense therapies. Biogen Idec will be responsible for creation and early development of small molecules and biologics, as well as late stage development and commercialization of all treatments in the deal. ...