Therapy Areas: Cardiovascular
Ionis Earns USD 30m License Fee from AstraZeneca for Novel Drug for Treatment of NASH
11 April 2018 - - Carlsbad, California-based RNA-targeted therapeutics developer Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) has licensed IONIS-AZ6-2.5-LRx, or AZD2693, to AstraZeneca (NYSE: AZN) following advancement of the drug into development, the company said.
AZD2693 is designed to inhibit an undisclosed target to treat patients with nonalcoholic steatohepatitis.
In conjunction with this milestone, global, science-led biopharmaceutical company AstraZeneca will pay a USD30 m license fee to Ionis.
AstraZeneca will be responsible for further development and commercialization of AZD2693.
As AZD2693 advances in development, Ionis may also receive up to USD300 m in additional development and regulatory milestone payments, as well as tiered royalties up to the low teens from sales of the drug.
AstraZeneca and Ionis have a strategic alliance focused on leveraging antisense technology to discover and develop antisense therapies for cardiovascular, metabolic and renal diseases.
In the collaboration, Ionis is primarily responsible for creating development candidates. AstraZeneca paid Ionis an upfront fee of USD 65m at the initiation of the collaboration.
Ionis is focused on developing drugs for patients who have the highest unmet medical needs, such as those patients with severe and rare diseases. Using its proprietary antisense technology, the company has created a large pipeline of first-in-class or best-in-class drugs, with over three dozen drugs in development.
Login
Username:

Password: