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Akcea and Ionis Announce Closing of Licensing Agreement with Pfizer Inc. for Investigative Antisense Therapy AKCEA-ANGPTL3-L(Rx)
BOSTON and CARSLBAD, Calif., Nov. 19, 2019 (GLOBE NEWSWIRE) -- Akcea Therapeutics, Inc. (NASDAQ: AKCA), a majority-owned affiliate of Ionis Pharmaceuticals,
About this update from Ionis Pharmaceuticals, Inc.
[{"type":"text","content":"BOSTON and CARSLBAD, Calif., Nov. 19, 2019 (GLOBE NEWSWIRE) -- Akcea Therapeutics, Inc. (NASDAQ: AKCA), a majority-owned affiliate of Ionis Pharmaceuticals, Inc., and Ionis Pharmaceuticals, Inc. (NASDAQ: IONS), today announced the closing of the exclusive licensing agreement with Pfizer Inc. (NYSE:PFE) for AKCEA-ANGPTL3-LRx following expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act). \n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n AKCEA-ANGPTL3-LRx is an investigational antisense therapy discovered by Ionis and being developed to treat patients with certain cardiovascular and metabolic diseases. As previously announced, under terms of the agreement Akcea and Ionis will receive a $250 million upfront license fee, which will be split equally between the two companies. Akcea will settle its $125 million obligation to Ionis in Akcea common stock. Additional details about the agreement can be found in Akcea’s Form 8-K filed with the Securities and Exchange Commission on October 8, 2019. ABOUT IONIS PHARMACEUTICALS, INC.As the leader in RNA-targeted drug discovery and development, Ionis has created an efficient, broadly applicable, drug discovery platform called antisense technology that can treat diseases where no other therapeutic approaches have proven effective. Our drug discovery platform has served as a springboard for actionable promise and realized hope for patients with unmet needs. We created the first and only approved treatment for children and adults with spinal muscular atrophy as well as the world's first RNA-targeted therapeutic approved for the treatment of polyneuropathy in adults with hereditary transthyretin amyloidosis. Our sights are set on all the patients we have yet to reach with a pipeline of more than 40 novel medicines designed to treat a broad range of diseases including cardiovascular diseases, neurological diseases, infectious diseases, pulmonary diseases and cancer. To learn more about Ionis visit www.ionispharma.com and follow us on twitter @ionispharma. ABOUT AKCEA THERAPEUTICS, INC.Akcea Therapeutics, Inc., an affiliate of Ionis Pharmaceuticals, Inc., is a biopharmaceutical company focused on developing and commercializing drugs to treat patients with serious and rare diseases. Akcea is commercializing TEGSEDI® (inotersen) and WAYLIVRA® (...