Isis Pharmaceuticals to Receive $7.5 Million from Alnylam
CARLSBAD, Calif., Jan. 13, 2014 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) announced today that it will receive $7.5 million from Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) from the recently announced alliance between Genzyme and Alnylam. In addition, Isis has the potential to receive royalties on products and a portion of future milestone payments. This transaction underscores the value of Isis' innovation and the leadership role Isis has played in the field of nucleic acid based therapeutics.
"Our innovation in RNA-based drug discovery has enabled us to create a broad and extensive patent position that covers many key discoveries for the RNA therapeutic space. The breadth and depth of our patent estate has allowed us to create a number of relationships, such as the one we have with Alnylam, that enhance our leadership in the field. Our technology supports RNA-based drug discovery efforts for us and our partners and allows our partners access to our technology. To date we have generated well over $400 million from the sales and licensing of our intellectual property, including more than $50 million from Alnylam's collaborations," said B. Lynne Parshall, chief operating officer at Isis.
ABOUT ISIS PHARMACEUTICALS, INC.
Isis is exploiting its leadership position in antisense technology to discover and develop novel drugs for its product pipeline and for its partners. Isis' broad pipeline consists of 31 drugs to treat a wide variety of diseases with an emphasis on cardiovascular, metabolic, severe and rare diseases, and cancer. Isis' partner, Genzyme, is commercializing Isis' lead product, KYNAMRO®, in the United States for the treatment of patients with HoFH. Isis' patents provide strong and extensive protection for its drugs and technology. Additional information about Isis is available at www.isispharm.com.
ISIS PHARMACEUTICALS' FORWARD-LOOKING STATEMENT
This press release includes forward-looking statements regarding Isis Pharmaceuticals' business, its intellectual property portfolio, and the therapeutic and commercial potential of the Company's technologies. Any statement describing Isis' goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. Isis' forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Isis' forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Isis. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Isis' programs are described in additional detail in Isis' annual report on Form 10-K for the year ended December 31, 2012, and its most recent quarterly report on Form 10-Q, which are on file with the SEC. Copies of these and other documents are available from the Company.
In this press release, unless the context requires otherwise, "Isis," "Company," "we," "our," and "us" refers to Isis Pharmaceuticals and its subsidiaries.
Isis Pharmaceuticals® is a registered trademark of Isis Pharmaceuticals, Inc. KYNAMRO® is a registered trademark of Genzyme Corporation.
SOURCE Isis Pharmaceuticals, Inc.