Isis receives $5 million from Biogen Idec to develop drugs for neurological disorders

Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) announced today it has earned a $5 million milestone payment from Biogen Idec associated with the validation of an undisclosed target to treat a neurological disorder under its broad strategic collaboration with Biogen Idec to develop drugs to treat patients with neurological disorders. Isis will continue to evaluate the target with the goal of advancing this program into development.

"Together with Biogen Idec, we have made significant progress advancing multiple partnered programs. We benefit from the expertise Biogen Idec brings to our partnered programs, and we benefit financially as these programs advance. Across our four collaborations, we have generated more than $305 million from Biogen Idec as our programs have advanced," said B. Lynne Parshall, chief operating officer at Isis. "As we enter 2015, we expect another year of growth and anticipate expanding our neurological disease franchise with Biogen Idec as we continue to identify new targets and move new antisense drugs into development."

Source:
Isis Pharmaceuticals, Inc.

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