Ionis Pharmaceuticals (NASDAQ:IONS) affiliate Akcea Therapeutics (NASDAQ:AKCA) inks an agreement with Pfizer (NYSE:PFE) for global rights to antisense drug AKCEA-ANGPTL3-Lrx for certain cardiovascular and metabolic diseases.
Under the terms of the deal, Akcea and Ionis will receive $250M upfront, divided equally, up to $1.3B in milestones and tiered double-digit royalties on net sales. Akcea will settle its $125M obligation to Ionis via common stock instead of cash.
Pfizer will be responsible for all development and regulatory activities beyond the ongoing Phase 2 trial.
Akcea has the right to participate in certain commercialization activities in the U.S. and selected other markets based on predefined terms and criteria.
AKCEA-ANGPTL3-Lrx is designed to reduce the production of a protein called angiopoietin-like 3, a key regulator of a range of lipid and metabolic pathways. The absence of the protein is associated with reduced risk of insulin resistance and diabetes.
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