Isis Pharmaceuticals, Inc. has earned a $5 million milestone payment from GlaxoSmithKline (GSK) related to the designation of ISIS-GSK4Rx as a development candidate. ISIS-GSK4Rx is an antisense drug designed to treat an undisclosed ocular disease.
"Our collaboration with GSK has been very productive resulting in three novel antisense drugs in our pipeline," said B Lynne Parshall, chief operating officer at Isis. "We look forward to advancing ISIS-GSK4Rx into the clinic and providing more information on the target and disease opportunity, which we are very excited about."
As a part of the alliance, Isis is eligible to earn additional pre-licensing milestone payments from GSK as ISIS-GSK4Rx advances. Isis will develop ISIS-GSK4Rx to phase II proof-of-concept, at which time GSK has an option to exclusively license it. Isis is also eligible to receive double-digit royalties on sales of ISIS-GSK4Rx.
Isis is exploiting its leadership position in antisense technology to discover and develop novel drugs for its product pipeline and for its partners consists of 31 drugs to treat a wide variety of diseases with an emphasis on cardiovascular, metabolic, severe and rare diseases, including neurological disorders, and cancer.