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.
KC
(2015-0164E)
Forward-Looking Statements
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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