Ebb & Flow

But investors keep returning. This quarter, ISIS has attracted both a new face (Symphony Capital) and a familiar one (Acqua) to its story. Both investors say their due diligence suggests a strong pipeline of second-generation antisense compounds aimed at big indications.

Last week, Azimuth Opportunity, which is advised by Acqua Capital, made a $75 million equity financing commitment to the company. Acqua is no stranger to ISIS, having invested in the company’s $27.3 million private placement in March 2000.

"We’ve been an investor in the company on and off for years," said Acqua’s Isser Elishis. "Antisense has its critics and it’s been around for a long time, but Stan will get this right - it’s just a matter of time and money." Stanley Crooke is ISIS’s chairman and CEO.

In particular, Elishis has his eye on ISIS 301012, a second-generation antisense inhibitor of ApoB-100 that is in Phase II testing to treat elevated cholesterol. In April, interim data from the three low-dose groups showed that ISIS 301012 reduced ApoB-100, LDL and triglycerides (see BioCentury, May 1).

ISIS 301012 is being developed within Symphony GenIsis, an entity funded by Symphony Capital. Under that April deal, the merchant bank and undisclosed investors formed and invested $75 million in Symphony GenIsis to develop ISIS 301012 and two preclinical diabetes compounds. ISIS has an option to repurchase the compounds.

"If the cholesterol compound alone gets through, it will transform ISIS," said Elishis.

Like Elishis, Symphony’s Mark Kessel said the clinical

Read the full 2431 word article

User Sign In

Article Purchase

This article may not be distributed to non-subscribers

PURCHASE THIS ARTICLE FOR LIMITED ONE-TIME DISTRIBUTION AND WEBSITE POSTING $995.00 USD

PURCHASE