NEW YORK, Sept. 12 (GenomeWeb News) - Isis Pharmaceuticals expects nearly $4 million in payments from Alnylam Pharmaceuticals following Alnylam's recent deal with Novartis, the Carlsbad, Calif.-based company said today.
Isissaid it is entitled to a portion of the upfront payments and equity investment from Novartis as part of its 2004 partnership with Alnylam. It might also receive milestone and royalty payments on drugs which utilize technology it licensed to Alnylam.
Under the 2004 agreement, Isislicensed over 150 patents to Alnylam, including the "Crooke" patents that cover mechanisms of RNase-dependent antisense activity and chemically modified oligonucleotides. In exchange, Isisobtained a technology access fee, participation in fees for Alnylam's partnering programs, and downstream milestone and royalty payments.