Ionis Pharmaceuticals, Inc. recently announced $10 million in earnings from Janssen Biotech Inc. after licensing the drug, INOIS-JBI1-2.5Rx, which is designed to hinder an undisclosed target in the gastrointestinal (GI) tract that is used to treat GI autoimmune disease.
Global development, regulatory responsibilities and commercialization of the drug will be handled by Janssen when the IND-enabling studies have been finalized by Ionis.
"IONIS-JBI1-2.5Rx is the first antisense drug to enter development as part of Ionis' collaboration with Janssen to discover and develop orally administered, locally acting RNA-targeted therapeutics for autoimmune diseases in the gastrointestinal tract,” B. Lynne Parshall, Ionis CEO, said. “We are very pleased to have rapidly advanced this first drug candidate into development within a year and a half of initiating our collaboration with Janssen. This new drug further expands our technology's reach into a new therapeutic setting and a new route of delivery."
The agreement between the two companies covers three different programs. Under the deal, Ionis is qualified to receive approximately $800 million in milestone payments and license fees. Ionis will also be paid royalties on a tiered structure for products that are successfully commercialized.
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