Pfizer will front $250 million to gain rights to a phase 2 drug being developed to target a range of major diseases.
As part of the worldwide licensing agreement with Akcea Therapeutics, which is owned by Ionis Pharmaceuticals, Pfizer will help accelerate clinical development of AKCEA-ANGPTL-3-LRX, a treatment being studied in patients with cardiovascular and metabolic diseases. The drug works by reducing the production of angiopoietin-like 3 protein in the liver, which regulates triglycerides, cholesterol, glucose and energy metabolism. Akcea’s treatment has completed trials for familial partial lipodystrophy and familial chylomicronemia and is in phase 2 trials for type 2 diabetes, hypertriglyceridemia and nonalcoholic fatty liver disease.
In addition to the upfront payment, Pfizer could potentially shell out another $1.3 billion in milestone payments and sales royalties for the treatment. Pfizer will also assume all development and regulatory costs beyond the current phase 2 studies.
Read the press release.