CARLSBAD, Calif., June 17, 2014 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) announced today it has earned a $10 million milestone payment from Biogen Idec associated with the validation of an undisclosed target to treat a neurological disorder. This is the first milestone payment under Isis' and Biogen Idec's 2013 strategic collaboration to advance the treatment of neurological disorders. This collaboration combines Biogen Idec's expertise in neurology with Isis' leadership in antisense technology to develop novel therapies to treat neurological disorders and is the fourth collaboration between the two companies.
"Together with Biogen Idec, we have made significant progress advancing multiple partnered programs. Today, we have achieved the first milestone under our broad strategic collaboration with Biogen Idec to develop drugs to treat patients with neurological disorders," said B. Lynne Parshall, chief operating officer at Isis. "This year we anticipate expanding our neurological disease franchise with Biogen Idec as we continue to validate new targets and move new antisense drugs into development."
ABOUT ISIS and BIOGEN IDEC Biogen Idec and Isis have established four collaborations focused on leveraging antisense technology to advance the treatment of neurological and neuromuscular disorders. This alliance combines Isis' expertise in antisense technology to evaluate potential neurological targets and discover antisense drugs with Biogen Idec's capability to develop therapies for neurological disorders. Isis is primarily responsible for drug discovery and early development of antisense therapies. Biogen Idec has the option to license each antisense program at a particular stage in development. Current development-stage programs include antisense drugs to treat SMA, ISIS-SMN Rx, and myotonic dystrophy type 1, ISIS-DMPK Rx.
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
the United States for the treatment of patients with HoFH. Isis' patents provide strong and extensive protection for its drugs and technology. Additional information about Isis is available at
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts