Benzinga | Apr 6, 2021 09:44AM EDT

Ionis Antisense Oligonucleotides To Be Evaluated With Progenity's Drug Delivery System

* Progenity Inc (NASDAQ: PROG) has announced an agreement with Ionis Pharmaceuticals Inc (NASDAQ: IONS) to evaluate the safety, tolerability, and performance of Progenity's Oral Biotherapeutics Delivery System (OBDS) for oral-systemic delivery of Ionis developed antisense oligonucleotides.

* The OBDS is an ingestible capsule based on a needle-free technology to enable the delivery of a drug formulated in a solution directly into the tissues of the small intestine, where it can be absorbed systemically.

* During the first phase of the study, Progenity and Ionis will evaluate the OBDS in conjunction with Ionis' drug for in vitro compatibility and performance and in vivo safety, tolerability, and performance in a preclinical canine model.

* Price Action: PROG shares are up 0.3% at $4.95, while IONS stock is up 1.12% at $47.37 on the last check Tuesday.