Benzinga | Dec 7, 2021 07:44AM EST

Ionis, AstraZeneca Ink Licensing Pact For Eplontersen In Protein Misfolding Disorder

Ionis Pharmaceuticals Inc (NASDAQ:IONS) has entered into a strategic collaboration agreement with AstraZeneca Plc (NASDAQ:AZN) to develop and commercialize eplontersen, Ionis' antisense medicine for transthyretin amyloidosis (ATTR).

* ATTR is a slowly progressive condition characterized by the buildup of abnormal protein deposits called amyloid (amyloidosis) in the body's organs and tissues.

* Eplontersen (IONIS-TTR-LRx) is designed to reduce the production of transthyretin (TTR) protein.

* Ionis will continue to lead the global Phase 3 trials in patients with hereditary ATTR amyloidosis (hATTR) with polyneuropathy and cardiomyopathy.

* Ionis and AstraZeneca will have shared responsibility for medical affairs and commercial activities in the U.S.

* AstraZeneca will have an exclusive license for eplontersen outside the U.S. except in certain countries in Latin America.

* hATTR with polyneuropathy will be the first indication the companies will seek regulatory approval for eplontersen, potentially filing a marketing application with the FDA by the end of 2022.

* Under the agreement terms, Ionis will receive a $200 million upfront payment, up to $485 million in development and approval milestones, and up to $2.9 billion in sales-related milestone payments.

* Related Link: Bicycle, Ionis To Develop Targeted Oligonucleotide Therapeutics.

* Price Action: IONS shares closed 4.21% higher at $27.5 on Monday. AZN shares are down 1.21% at $54.74 during the premarket session on the last check Tuesday.