Altair to commercialize Isis' antisense drugs

USA-headquartered drugmaker Isis Pharmaceuticals says that, in collaboration with investment group Thomas McNerney & Partners, it has established a new biotechnology firm, Altair Therapeutics. The newly-founded joint venture, in which Isis has an 18% stake, will focus on the development and commercialization of the Californian firm's pipeline of antisense drugs for asthma and other respiratory conditions.

Under the terms of the partnership, Isis has granted Altair exclusive worldwide rights to ISIS369645, an inhaled inhibitor of the interleukin 4/IL-3 signalling pathway that has been shown to play a key role in the development of asthma. In return, Isis is set to receive developmental milestones and royalties based on sales if the product is successfully commercialized. The companies will also collaborate on the discovery of drugs directed to other promising targets for a range of breathing disorders.

Isis' chief financial officer, B Lynne Marshall, said that such joint venture operations were a key component of the firm's business strategy, because they make best use of the broad applicability of its antisense technology. She added that "Altair is now joining the ranks of these partners, which include Alynylam, OncoGenex Regulus, ATL, iCo and others."