Ionis Pharmaceuticals Inc. issued the following announcement on Feb. 20.
Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) announced that it has licensed IONIS-AZ5-2.5Rx (AZD2373) to the global, science-led biopharmaceutical company AstraZeneca (NYSE: AZN). IONIS-AZ5-2.5Rx is a Generation 2.5 antisense drug, discovered by Ionis and designed to inhibit an undisclosed target to treat a genetically associated form of kidney disease. AstraZeneca will be responsible for developing and commercializing IONIS-AZ5-2.5Rx.
"This is the second drug to enter development under our strategic collaboration with AstraZeneca in cardiovascular, metabolic and renal diseases. IONIS-AZ5-2.5Rx is being developed to treat a genetically associated form of kidney disease with a high unmet medical need. We were able to move this program from target validation to a clinical candidate quickly, exemplifying the efficiency of our antisense platform," said Brett P. Monia, Ph.D., chief operating officer and senior vice president of antisense drug discovery and translational medicine at Ionis. "AstraZeneca is a great partner to work with in the cardiometabolic and renal therapeutic area, and we look forward to them moving this program through development."
Ionis will receive a $30 million upfront payment from AstraZeneca for IONIS-AZ5-2.5Rx and may also receive up to $300 million in additional development and regulatory milestone payments and tiered, low double-digit royalties from sales of this potential new medicine.
Original source can be found here.
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