Isis Licenses ISIS-FXI Rx To Bayer To Commercialize For Prevention Of Thrombosis

(RTTNews) - Isis Pharmaceuticals Inc. (ISIS) said it has entered into an exclusive license agreement with Bayer HealthCare to develop and commercialize ISIS-FXIRx for the prevention of thrombosis.

As per the terms of the agreement, Isis is eligible to receive up to $155 million in near-term payments, including an immediate $100 million up-front payment and a $55 million payment upon advancement of the program following a Phase 2 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 in the low to high twenty percent range 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.

As part of the clinical development program, Bayer plans to evaluate the therapeutic profile of ISIS-FXIRx in patients for whom currently available anticoagulants may not be used, such as in patients with a high risk of bleeding due to multiple co-morbidities.

This transaction is subject to clearances under the Hart-Scott Rodino Antitrust Improvements Act.