Isis Pharmaceuticals Earns $2M Milestone Payment from GSK for Advancement of ISIS-TTR Rx
Isis Pharmaceuticals (NASDAQ: ISIS) announced today that it has earned a $2 million milestone payment from GlaxoSmithKline (NYSE GSK) related to the advancement of the ongoing Phase 2/3 study of ISIS-TTRRx in patients with familial amyloid polyneuropathy (FAP).
ISIS-TTRRx is an antisense drug in development with GSK for the treatment of transthyretin amyloidosis, a severe and rare genetic disease characterized by progressive dysfunction of peripheral nerve and/or heart tissues. To date, Isis has earned more than $20 million in upfront and milestone payments for advancing ISIS-TTRRx. The $2 million milestone payment announced today is the second milestone of the $50 million in milestone payments Isis is eligible to earn as the Phase 2/3 study progresses. In addition, if GSK elects to exercise its option to exclusively license the ISIS-TTRRx program, Isis is eligible to receive a license fee, regulatory and sales milestone payments and double-digit royalties on sales of ISIS-TTRRx.
The Phase 2/3 study of ISIS-TTRRx is a randomized, double-blind, placebo-controlled, international study designed to support an application for marketing approval