Ionis Pharmaceuticals Earns $5 Million Milestone Payment
News Dec 29, 2015
Ionis Pharmaceuticals, Inc. has announced that it has earned a $5 million milestone payment from Biogen associated with the validation of an undisclosed target to treat patients with an undisclosed neurological disorder.
Ionis and Biogen have a broad strategic collaboration to develop drugs to treat patients with neurological disorders. For this newest target, Ionis will continue to evaluate the target with the goal of advancing this program into development.
"Our strategic collaboration with Biogen is very successful. Our most advanced program, nusinersen, is currently in Phase 3 clinical studies, and we have a number of other drugs in development. We benefit tremendously from the expertise Biogen brings to our partnered programs. We also benefit financially as these programs advance. Across our four collaborations, we have generated more than $350 million from Biogen as our programs have advanced," said B. Lynne Parshall, chief operating officer at Ionis. "As we enter 2016, we expect to continue to expand our collaboration with Biogen as we identify new targets and move new antisense drugs into development."