Strategic alliance for Archemix and Isis

US companies Archemix and Isis Pharmaceuticals have entered into a strategic alliance that includes a broad intellectual property license agreement and research collaboration. The accord provides Archemix with access to approximately 400 issued and pending Isis patents covering proprietary chemistries, as well as analytical and manufacturing methods related to the research, development and commercialization of oligonucleotide-based therapeutics to discover and develop drugs based on Archemix' proprietary SELEX technology. Additionally, the companies will share their respective know-how in oligonucleotide therapeutic discovery and development.

This alliance, the firms say, capitalizes upon Isis' significant investment in the R&D of oligonucleotide therapeutics. Under the terms of the deal, Isis licensed to Archemix certain of its patents relating to oligonucleotide compositions and methods exclusively for use in conjunction with aptamer therapeutics. Isis will receive milestones and royalties on aptamer therapeutics developed by Archemix that incorporate proprietary Isis chemistries or which utilize proprietary Isis analytical or manufacturing methods. Additionally, Isis will receive a percentage of revenue generated by Archemix if Archemix sublicenses Isis' intellectual property to a third party for the development of aptamer therapeutics. Isis also received a warrant to purchase an undisclosed number of shares of Archemix common stock. Specific financial terms were not disclosed.