Ionis earns $5m milestone payment from Jannsen under GI collaboration
Ionis Pharmaceuticals has earned $5m milestone payment from Janssen Biotech towards validation of an undisclosed target to treat patients with a gastrointestinal (GI) autoimmune disease.
Under the collaboration, Ionis and Janssen will continue to evaluate the target with the goal of advancing an antisense drug into development.
Ionis chief operating officer B. Lynne Parshall said: "In just two short years, our collaboration with Janssen has proven to be very successful. Earlier this year, we earned $10m when Janssen licensed IONIS-JBI1-2.5Rx, an orally delivered antisense drug for the treatment of a GI autoimmune disease. The program announced today marks the second to advance under our collaboration with Janssen.
"We are excited by the rapid advancement of both programs and look forward to the continued progress of this collaboration."
Under the terms of the agreement, which covers three programs, Ionis is eligible to receive nearly $800m in development, regulatory and sales milestone payments and license fees. In addition, Ionis will receive tiered royalties that on average are double-digits on sales from any product that is successfully commercialized.
Source: Company Press Release