Genzyme and Isis Announce Hart-Scott-Rodino Approval of Collaboration
News Feb 04, 2008
Genzyme Corp. and Isis Pharmaceuticals, Inc. have announced that they have received clearance under the Hart-Scott-Rodino Antitrust Improvements Act for their collaboration, which was announced on January 7, 2008.
Based on this approval, Genzyme will pay Isis $150 million to purchase five million shares of Isis common stock for $30 per share.
Upon completion of final contracts, Genzyme will pay to Isis an additional up-front cash payment of $175 million for the exclusive licensing of mipomersen.
As part of the strategic alliance, Genzyme will develop and commercialize mipomersen, a breakthrough, potential blockbuster lipid-lowering treatment for high risk cardiovascular patients that utilizes Isis' antisense technology.
Isis will also be eligible to receive milestone and profit sharing payments for mipomersen, which is currently in phase 3 development. In addition, Genzyme will have preferred access to future drugs developed by Isis for CNS and certain rare diseases.
Old age is the greatest risk factor for many diseases, including Alzheimer's disease (AD) and cancer. Geroprotectors are a recently identified class of anti-aging compounds. New research has now identified a unique subclass of these compounds, dubbed geroneuroprotectors (GNPs), which are AD drug candidates and slow the aging process in mice.READ MORE