Licence agreement

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Isis Pharmaceuticals has entered into an exclusive license agreement with Bayer HealthCare to develop and commercialize its first-inclass ISIS-FXIRx inhibitor for the prevention of thrombosis. The antisense drug is in development for the prevention of clotting disorders.

Under the terms of the agreement, Isis shall receive up to $155 million in near-term payments, including an immediate $100 million up-front payment and a $55 million payment following a Phase 2 study in patients with compromised kidney function. Isis is also eligible to receive milestone payments as the drug advances toward the market. In addition, Isis shall receive tiered royalties in the low to high twenty percent range on gross margins of ISIS-FXIRx. Bayer will assume all global clinical development as well as worldwide regulatory and commercialization responsibilities for ISIS-FXIRx.

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