Isis earns $5 million milestone Payment from GSK
Isis Pharmaceuticals has earned a $5 million milestone payment from GlaxoSmithKline related to the designation of ISIS-GSK4Rx as a development candidate. ISIS-GSK4Rx is an antisense drug designed to treat an undisclosed ocular disease.
"Our collaboration with GlaxoSmithKline has been very productive resulting in three novel antisense drugs in our pipeline," said B. Lynne Parshall, chief operating officer at Isis. "We look forward to advancing ISIS-GSK4Rx into the clinic and providing more information on the target and disease opportunity."
Isis is eligible to earn additional pre-licensing milestone payments from GlaxoSmithKline as ISIS-GSK4Rx advances. Isis will develop ISIS-GSK4Rx to phase II proof-of-concept, at which time GlaxoSmithKline has an option to exclusively license it. Isis also is eligible to receive double-digit royalties on sales of ISIS-GSK4Rx.