Isis Earns $5 Mln In Milestone Payment From GSK For Advancement Of ISIS-GSK4 Rx

(RTTNews) - Isis Pharmaceuticals Inc. (ISIS) announced that it has earned a $5 million milestone payment from GlaxoSmithKline (GSK, GSK.L) related to the designation of ISIS-GSK4Rx as a development candidate. ISIS-GSK4Rx is an antisense drug designed to treat an undisclosed ocular disease.

As a part of the alliance, Isis is eligible to earn additional pre-licensing milestone payments from GlaxoSmithKline as ISIS-GSK4Rx advances. Isis said it will develop ISIS-GSK4Rx to Phase 2 proof-of-concept, at which time GlaxoSmithKline has an option to exclusively license it. Isis is also eligible to receive double-digit royalties on sales of ISIS-GSK4Rx.