WHIPPANY, N.J., May 4, 2015 /PRNewswire/ -- Bayer HealthCare (Bayer) has entered into an exclusive license agreement with Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) on ISIS-FXIRx, an antisense investigational drug in clinical development for the prevention of thrombosis. Under the agreement Bayer will further develop and commercialize ISIS-FXIRx in areas of high unmet medical need. As part of the clinical development program, Bayer plans to evaluate the therapeutic profile of ISIS-FXIRx in an appropriate patient community.
"Bayer is committed to developing therapies in areas of patient need and we share a common vision with Isis in developing ISIS-FXIRx," said Dr Joerg Moeller, Member of the Bayer HealthCare Executive Committee and Head of Global Development.
"We believe Bayer, a leading pharmaceutical company in the treatment of thrombotic disease, is the ideal partner for ISIS-FXIRx. This transaction further demonstrates Bayer's commitment to the field. Bayer has the expertise, commitment and resources to develop ISIS-FXIRx in areas where unmet medical needs exist. 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," said Stanley Crooke, Ph.D, M.D., Chief Executive Officer at Isis Pharmaceuticals. "We believe that this transaction represents the right deal, with the right partner and the right development plan."
Under the terms of the agreement, Isis is eligible to receive near-term payments, including an up-front payment and payment upon advancement of the program following a Phase II 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 is eligible to receive tiered royalties on gross margins of ISIS-FXIRx. 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.
This transaction is subject to clearances under the Hart-Scott Rodino Antitrust Improvements Act.
About Isis Pharmaceuticals, Inc.
Isis is exploiting its leadership position in RNA-targeted technology to discover and develop novel drugs for its product pipeline and for its partners. Isis' broad pipeline consists of 38 drug candidates to treat a wide variety of diseases with an emphasis on cardiovascular, metabolic, severe and rare diseases, including neurological disorders, and cancer. Isis has numerous drug candidates in Phase III development in severe/rare diseases and cardiovascular diseases. Isis' patents provide strong and extensive protection for its drugs and technology. Additional information about Isis is available at www.isispharm.com.
About Bayer HealthCare
The Bayer Group is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. Bayer HealthCare, a subgroup of Bayer AG with annual sales of around EUR 20.0 billion (2014), is one of the world's leading, innovative companies in the healthcare and medical products industry and is based in Leverkusen, Germany. The company combines the global activities of the Animal Health, Consumer Care, Medical Care and Pharmaceuticals divisions. Bayer HealthCare's aim is to discover, develop, manufacture and market products that will improve human and animal health worldwide. Bayer HealthCare has a global workforce of 60,700 employees (Dec 31, 2014) and is represented in more than 100 countries. More information is available at www.healthcare.bayer.com.
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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SOURCE Bayer HealthCare