Biogen Idec and Isis Pharma ink deal on targeting myotonic dystrophy
In a second accord between the US biotech companies this year, Biogen Idec (Nasdaq: BIBB) and Isis Pharmaceuticals (Nasdaq: ISIS) have entered into an exclusive, worldwide option and collaboration agreement under which they will develop and commercialize a novel antisense drug for the treatment of myotonic dystrophy type 1 (DM1), also known as Steinert disease.
Isis will receive an upfront payment of $12 million and is responsible for the discovery of a lead antisense drug candidate targeting DMPK for the treatment of DM1. Isis is eligible to receive up to $59 million in milestone payments associated with the clinical development of the DMPK-targeting drug prior to licensing.
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