By Melodie Warner
Isis Pharmaceuticals Inc. (ISIS) earned a $10 million milestone
payment from AstraZeneca PLC's (AZN, AZN.LN) decision to add a
second development candidate to their collaboration on novel cancer
antisense drugs.
Isis had struck a deal with AstraZeneca in December to develop
novel generation antisense therapeutics against five cancer
targets. The deal included an exclusive license for AstraZeneca to
develop and commercialize ISIS-STAT3, a drug Isis was evaluating
for patients with advanced lymphomas.
Isis on Monday said AstraZeneca has added a second development
candidate, ISIS-AR(Rx), to the collaboration.
AstraZeneca plans to develop ISIS-AR(Rx) as a prostate cancer
treatment, both as a single agent and in combination therapy.
With the selection of ISIS-AR(Rx), Isis said it has earned $35
million in upfront and milestone payments from AstraZeneca. Isis is
also eligible to earn additional milestone payments as the drug
progresses in development as well as royalties on sales if
ISIS-AR(Rx) is successfully commercialized.
Shares of Isis closed Friday at $21.69 and were inactive
premarket. The stock has more than doubled so far this year.
Write to Melodie Warner at melodie.warner@dowjones.com
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