Tuesday, May 3, 2016
Ionis Pharmaceuticals Sells Rights To Pharmaceutical Product
Carlsbad-based Ionis Pharmaceuticals said today that Kastle Therapeutics has acquire dthe rights to develop and commercialize its KYNAMRO (mipomersen sodium) injection, which is used to lower cholesterol in the blood. The companies said the deal is worth up to $95M, and is split beween $15M in an upfront payment, a $10M milestone payment three years from today, and up to $70M based on sales milestones. KYNAMRO is a drug used to reduce low density lipoprotein-cholesterol (LDL-C), apolipoprotein B (apoB), total cholesterol (TC) and non-high density lipoprotein-cholesterol (non-HDL-C), in patients with homozygous familial hypercholesterolemia (HoFH).