AstraZeneca, Isis Pharma Join To Discover And Develop Antisense Drugs

(RTTNews) - Isis Pharmaceuticals, Inc. (ISIS) Monday announced a strategic collaboration with British drug major AstraZeneca Plc (AZN.L, AZN) to discover and develop antisense therapies for cardiovascular, metabolic and renal diseases.

AstraZeneca will pay an upfront fee of $65 million to Isis Pharma plus development and regulatory milestones for each program that AstraZeneca advances to clinical development. Isis Pharma is also eligible to earn tiered double-digit royalties on annual net sales for each program.

Antisense drugs are short, chemically modified, single-stranded nucleic acids that have the ability to target any gene product of interest.

According to the firm, the new collaboration builds on a broad existing relationship between the two companies and supports AstraZeneca's strategic approach in these therapeutic areas using novel RNA-targeted treatments. The deal also enables Isis to extend use of its antisense technology to diseases of the kidney.

This transaction is subject to clearances under the Hart-Scott Rodino Antitrust Improvements Act.