| May 9,
2007--Bristol-Myers Squibb and Isis Pharmaceuticals
have inked a discovery, development, and commercialization
agreement potentially worth just over $190 million. The
deal is around proprotein convertase subtilisin kexin 9
(PCSK9) for prevention and treatment of cardiovascular
disease. Isis is a pioneering antisense development
company. Antisense works by targeting RNA.
Isis reports that PCSK9
helps regulate blood cholesterol levels. As part of the
deal, Bristol-Myers Squibb gains exclusive access to
Isis’s PCSK9 research program. Isis has reported that
reducing PCSK9 levels in animals lowers blood low density
lipoprotein (LDL) cholesterol levels.
The two companies will
carry out the preclinical development jointly, then
Bristol-Myers Squibb will be responsible for funding
clinical development, regulatory, and commercialization
activities. Isis receives a $15 million upfront licensing
fee and a minimum of $9 million in research funding.
Bristol-Myers Squibb will pay up to $168 million for the
achievement of pre-specified development and regulatory
milestones for the first drug in the collaboration, as
well as additional milestones associated with development
of follow-on compounds. Bristol-Myers Squibb will also pay
Isis royalties on sales of products resulting from the
collaboration.
Isis has 17 products in
development, but only one antisense-based drug has yet
reached commercialization: Isis’s Vitravene (fomivirsen)
is approved for cytomegalovirus
(CMV) retinitis accompanying HIV infection. Most of
Isis’s antisense products are now based on what the
company describes as second-generation antisense
chemistry.
For
more, see company
press release.
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