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Isis, Biogen Idec Ink Antisense Drug-Development Partnership

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Isis Pharmaceuticals said this week that it has teamed with Biogen Idec to develop antisense-based drugs for neurological and neuromuscular disorders.

Isis will receive an upfront payment of $30 million, and is responsible for discovering a lead antisense drug for three undisclosed targets. Isis will be responsible for developing the drugs through phase II testing, and Biogen Idec will have the option to license the compounds until this point.

Isis stands to receive additional research and development support prior to the exercise of the options, and could receive an additional $200 million in license fees and regulatory milestones per target. It will also receive double-digit royalties on drug sales.

If Biogen Idec exercises its options, it will take over all development and commercialization responsibilities for the compounds.

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