As reported in Seeking Alpha, GSK will pay $35 M to Isis Pharmaceuticals plus potential license and milestone payments that could reach as high as $1.5 B. This will give GSK access to Isis' antisense drug discovery platform that GSK will apply to new therapeutics for rare diseases.
Isis could earn on average $20 M per project (6 projects) that reaches mid-stage proof of concept. In addition to this deal, Isis also recieved a milestone payment of $6 M from BMS this month for its cholesterol drug BMS-PCSK9Rx.
Isis announced today in Medical News that it has signed an agreement with BioMed Realty for a new 176,000 square foot facility in Carlsbad, CA that will be built to design specs for Isis. Isis will lease the facility for 20 years and plans to consolidate the majority of its operations in the new site. Isis also leases 28,700 square feet nearby from the same management company that is newly upgraded manufacturing space to support the launch of mipomersan. Total leased space is 204,700 square feet.
Isis CEO, Dr. Stanley T. Crooke stated, "Working closely with BioMed Realty, we have been able to design a functional and efficient facility that will meet our needs for the near-term and for the future and our new facility remains close to our manufacturing suites...These capabilities greatly enhance our efforts as we transition toward further development and commercialization of our product pipeline."
Posted by Bruce Lehr April 5th 2010.
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