CARLSBAD, Calif., May 15, 2014 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) announced today that it has earned a $3.0 million milestone payment from GlaxoSmithKline (GSK) related to the initiation of a natural history study, which will support the advancement of one of the alliance programs.
"We have had a very productive alliance with GlaxoSmithKline, from which we have advanced three antisense drugs in our pipeline, including ISIS-TTR Rx, which is currently in Phase 3 development. The payment we earned today is further evidence of this productive collaboration," said B. Lynne Parshall, chief operating officer at Isis.
GlaxoSmithKline and Isis have established an alliance focused on leveraging antisense technology to develop drugs to treat rare and infectious diseases. This alliance provides GlaxoSmithKline with access to Isis' expertise in drug discovery and development of RNA-targeted therapeutics, with Isis retaining responsibility for the discovery and development of compounds to the alliance targets from inception to proof-of-concept. Current development-stage programs include ISIS-TTR Rx for patients with familial transthyretin polyneuropathy, ISIS-HBV Rx for patients with hepatitis B virus and ISIS-GSK4 Rx for patients with an undisclosed ocular disorder.
ABOUT ISIS PHARMACEUTICALS, INC.Isis is exploiting its leadership position in antisense technology to discover and develop novel drugs for its product pipeline and for its partners. Isis' broad pipeline consists of 32 drugs to treat a wide variety of diseases with an emphasis on cardiovascular, metabolic, severe and rare diseases, including neurological disorders, and cancer. Isis' partner, Genzyme, is commercializing Isis' lead product, KYNAMRO ®, in the United States and other countries for the treatment of patients with homozygous FH. Isis' patents provide strong and extensive protection for its drugs and technology. Additional information about Isis is available at www.isispharm.com.ISIS PHARMACEUTICALS' FORWARD-LOOKING STATEMENTThis press release includes forward-looking statements regarding Isis' strategic alliance with GSK, and the discovery, development, activity, therapeutic and commercial potential and safety of drugs developed from the alliance. Any statement describing Isis' goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. Isis' forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Isis' forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Isis. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Isis' programs are described in additional detail in Isis' annual report on Form 10-K for the year ended December 31, 2013, and its most recent quarterly report on Form 10-Q, which are on file with the SEC. Copies of these and other documents are available from the Company. In this press release, unless the context requires otherwise, "Isis," "Company," "we," "our," and "us" refers to Isis Pharmaceuticals and its subsidiaries.