Isis Nabs $35M Payment From Glaxo

3/31/10

Isis Pharmaceuticals (NASDAQ: ISIS), the Carlsbad, CA-based company that uses antisense technology to make targeted drugs, will receive a $35 million upfront cash payment from GlaxoSmithKline as part of a new collaboration announced today. The deal covers research into rare disorders and infectious diseases, in up to as many as six programs. Isis is eligible to receive milestone payments worth as much as $1.5 billion combined if all six programs are successful, plus double-digit royalties on sales if any of them become marketed products.

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