Bayer to Advance Ionis Pharma's Clotting Medicine
October 09 2019 - 07:38AM
Dow Jones News
By Chris Wack
Ionis Pharmaceuticals Inc. (IONS) said Wednesday it has been
notified by its partner, Bayer AG (BAYN.XE), about its decision to
advance Ionis-FXI-L(Rx) following positive clinical results.
Ionis's Ionis-FXI-L(Rx) is an antisense medicine being developed
to treat patients with clotting disorders.
Ionis entered into an exclusive license agreement with Bayer in
May 2015 to develop and commercialize Ionis' programs for the
treatment of clotting disorders.
Ionis said that under the agreement, it has generated more than
$185 million to date, including a $10 million milestone payment
Ionis earned with Bayer's continuation decision. Ionis said it is
eligible to receive additional milestone payments as the medicine
advances toward the market, as well as tiered royalties in the low
to high twenty percent range on gross margins.
Bayer will now assume all development, regulatory and
commercialization activities and costs.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
October 09, 2019 07:23 ET (11:23 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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