Isis Pharmaceuticals and Biogen Idec

Tools

Licensor: Isis Pharmaceuticals
Licensee: Biogen Idec
Deal size: $299 million
Upfront: $29 million
Milestones: $270 million
Stage: Phase I
When: January 12

What: Joining a race of pharma giants to treat rare cases of spinal muscular atrophy, Biogen Idec grabbed rights to an antisense drug program in the pipeline at Isis. In the pact, Biogen will pay Isis $29 million upfront and up to $45 million in milestones for an option to a $225 million licensing pact on the treatment. And Isis says the partners are on track to a potential regulatory approval once proof-of-concept data arrive. Just weeks before this deal was completed Roche committed $490 million to partner with PTC Therapeutics on its program for spinal muscular atrophy. And Novartis is also busy with its own program, another sign of the growing popularity of new treatments for rare conditions.