Isis Pharmaceuticals Initiates Phase 1 Study of ISIS-GSK3 Rx; Earns $3 M Milestone Payment From GSK

Isis Pharmaceuticals Inc. (NASDAQ:ISIS) initiated a Phase 1 study for ISIS-GSK3Rx and earned a $3 million milestone payment from GlaxoSmithKline (GSK).

As quoted in the press release:

ISIS-GSK3Rx is designed to inhibit the production of an undisclosed target to treat a common viral infection. Isis will develop ISIS-GSK3Rx to Phase 2 proof-of-concept, after which GSK has an exclusive option to in-license the program and further develop and commercialize the asset.

As a part of its alliance with GSK, Isis is eligible to earn additional pre-licensing milestone payments from GSK as ISIS-GSK3Rx advances. Isis is also eligible to receive double-digit royalties on sales of ISIS-GSK3Rx. The alliance applies Isis’ antisense drug discovery platform to discover and develop new therapeutics against targets for rare and serious diseases, including infectious diseases and some conditions causing blindness.

Isis Pharmaceuticals Inc. Chief Operating Officer, Lynne Parshall, said:

We are very pleased to advance ISIS-GSK3Rx into a clinical study in a therapeutic area where there is a significant need for better therapies. The versatility and broad applicability of our technology enables us to discover and develop antisense drugs to a diverse range of targets. We look forward to evaluating this important new drug in this underserved disease space.

Click here to read the Isis Pharmaceuticals Inc. (NASDAQ:ISIS) press release