Isis Pharmaceuticals Inc. has entered into a license agreement with Bayer HealthCare to develop and commercialize ISIS-FXIRx for the prevention of thrombosis. Isis is eligible to receive $155 million in near-term payments, including an immediate $100 million up-front payment and a $55 million payment upon advancement of the program following a Phase 2 study in patients with compromised kidney function, according to a press release. Isis could also get milestone payments as the drug advances toward the market as well as tiered royalties.
After completion of ongoing activities at Isis, Bayer will assume all global clinical development as well as worldwide regulatory and commercialization responsibilities for ISIS-FXIRx, the release said. As part of the clinical development program, Bayer plans to evaluate the therapeutic profile of ISIS-FXIRx in patients for whom currently available anticoagulants may not be used, such as in patients with a high risk of bleeding due to multiple co-morbidities.
"Bayer has the expertise, commitment and resources to develop ISIS-FXIRx in areas where unmet medical needs exist," said Stanley Crooke, Ph.D, M.D., CEO at Isis Pharmaceuticals. "We are pleased with the value of this partnership, which supports a robust development program to maximize the value of ISIS-FXIRx globally and which allows us to participate significantly in future commercial success."
"This first-in-class FXI inhibitor perfectly complements our in-house thrombosis pipeline and is an innovative development candidate for a variety of anti-coagulation needs," said Dr. Joerg Moeller, member of the Bayer HealthCare Executive Committee and head of global development. "We believe the novel mechanism of Factor XI inhibition may offer an additional pathway for treating patients for whom there are currently no suitable therapeutic options available. We share a common vision with Isis in developing ISIS-FXIRx to its full potential."
Read the full release