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Publish Date : 03-Jul-2012

Biogen Idec (BIIB) has inked an exclusive, worldwide option and collaboration deal with Isis Pharmaceuticals Inc. (ISIS).

As per this deal, Biogen Idec and ISIS will develop and commercialize a novel antisense drug for the treatment of myotonic dystrophy type 1 (DM1), which is also called Steinert disease. Isis will get an upfront payment of $12 million and will discover a lead antisense drug candidate targeting DMPK for the treatment of DM1. Isis can get up to $59 million in milestone payments related with clinical development of DMPK-targeting drug before licensing. Biogen Idec has the option to license the drug from Isis up through the completion of Phase 2 trial. Isis can get up to additional $200 million in a license fee and regulatory milestone payments. Isis will also get royalties on sales of the drug. Isis will manage global development of the drug through the completion of Phase 2 clinical trials, while Biogen Idec will advice on the clinical trial design and regulatory strategy. If Biogen Idec exercises its option, it will manage global development, regulatory and commercialization.

DM1 is the most common form of muscular dystrophy in adults. It is a genetic neuromuscular disease characterized by progressive muscle atrophy, weakness and disabling muscle spasms.

Steven H. Holtzman, EVP of Corporate Development at Biogen Idec, said, “Myotonic dystrophy is a debilitating neuromuscular disease that often affects entire families. The unmet need is great, and there are currently no therapies to slow or stop progression of the disease. Myotonic dystrophy has an identifiable genetic cause, the program fits with our mission to bring innovative therapies to patients with serious neurologic diseases, and Isis’ antisense compound has the potential to make a real difference. This collaboration, which is our second with Isis, reflects the tremendous respect we have for their scientific leadership and expertise in antisense technology.”

B. Lynne Parshall, J.D., COO, CFO and Secretary of Isis, said, “Biogen Idec is a world leader in neurodegenerative diseases. This collaboration allows us to expand our pipeline of drugs for rare and severe diseases with Biogen Idec’s additional resources and support. It also complements our new alliance with Biogen Idec for our Phase 1 program in spinal muscular atrophy, or SMA. As with SMA, we are using our antisense technology in a unique manner to treat another devastating disease. Biogen Idec is an ideal partner for these programs with its expertise in neurodegenerative disease and global reach to help bring these therapies successfully to patients who have no treatment options.”

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