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Archemix and Isis Form Strategic Alliance for Aptamer Drug Discovery and Development

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Archemix Corp. and Isis Pharmaceuticals, Inc. announced that they have entered into a strategic alliance that includes a broad intellectual property license agreement and research collaboration.

The agreement provides Archemix with access to approximately four hundred issued and pending Isis patents covering proprietary chemistries, analytical methods and manufacturing methods related to the research, development and commercialization of oligonucleotide-based therapeutics to discover and develop drugs based on Archemix's proprietary SELEX technology.

Additionally, the companies will share their respective know-how in oligonucleotide therapeutic discovery and development.

This alliance capitalizes upon Isis' investment in the research and development of oligonucleotide therapeutics.

Under the terms of the agreement, Isis licensed to Archemix certain of Isis' patents relating to oligonucleotide compositions and methods exclusively for use in conjunction with aptamer therapeutics.

Isis will receive milestones and royalties on aptamer therapeutics developed by Archemix that incorporate proprietary Isis chemistries or which utilize proprietary Isis analytical or manufacturing methods.

Additionally, Isis will receive a percentage of revenue generated by Archemix if Archemix sublicenses Isis' intellectual property to a third party for the development of aptamer therapeutics. Isis also received a warrant to purchase an undisclosed number of shares of Archemix common stock. Specific financial terms were not disclosed.