will receive up to $14 million from Pfizer
for its equity ownership of Excaliard Pharmaceuticals
from Pfizer’s acquisition of Excaliard. Upon closing of the acquisition, Isis will receive an initial $4.4 million. Contingent payments of up to an additional $9.6 million could be paid to Isis upon achievement of various milestones associated with the clinical and commercial progress of EXC 001. Isis will continue to be eligible for milestone and royalty payments under its licensing agreement with Excaliard for EXC 001.