Idera to Collaborate With GSK to Identify 3rd Generation Antisense Molecules for Treatment of Renal Disease
November 23 2015 - 8:00AM
Idera Pharmaceuticals, Inc. (NASDAQ:IDRA), a clinical-stage
biopharmaceutical company developing toll-like receptor and RNA
therapeutics for patients with cancer and rare diseases, today
announced it has entered into an exclusive worldwide collaboration
and license agreement with GSK to research, develop and
commercialize selected molecules from Idera’s 3rd generation
antisense platform for the treatment of selected targets in renal
disease.
“We are excited to be working with GSK to apply our drug
discovery and development efforts in renal disease. This
collaboration broadens the utility of our third generation
antisense platform beyond the stated areas of focus for Idera in
cancers and rare diseases,” stated Clayton Fletcher, Idera’s Senior
Vice President of Business Development and Strategic
Initiatives. “Importantly, through such collaborations we
have the opportunity to strengthen our balance sheet to enable us
to further our own clinical development and commercial
aspirations.”
Under the terms of the agreement, Idera is eligible to receive
approximately $100 million in development and regulatory milestone
payments, including a $2.5 million upfront payment.
Additionally, Idera is eligible to receive royalties on all sales
upon commercialization at varying rates up to five percent on
annual net sales in excess of $500 million.
“Advances in our understanding of chronic kidney disease have
opened up new treatment opportunities,” said John Lepore, GSK
Senior Vice President and Head of the Metabolic Pathways and
Cardiovascular Therapy Area Unit. “Idera’s antisense platform
offers a new path to explore whether gene silencing technology can
help stop or slow chronic kidney disease.”
About Idera Pharmaceuticals
Idera Pharmaceuticals is a clinical-stage biopharmaceutical
company developing novel nucleic acid-based therapies for the
treatment of certain cancers and rare diseases. Idera’s proprietary
technology involves using a TLR-targeting technology, to design
synthetic oligonucleotide-based drug candidates to act by
modulating the activity of specific TLRs. In addition to its TLR
programs, Idera is developing a third generation antisense
technology platform that it has created using its proprietary
technology to inhibit the production of disease-associated proteins
by targeting RNA. To learn more about Idera, visit
www.iderapharma.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical fact,
included or incorporated in this press release, including
statements regarding the Company's strategy, future operations,
collaborations, intellectual property, cash resources, financial
position, future revenues, projected costs, prospects, plans, and
objectives of management, are forward-looking statements. The words
"believes," "anticipates," "estimates," "plans," "expects,"
"intends," "may," "could," "should," "potential," "likely,"
"projects," "continue," "will," and "would" and similar expressions
are intended to identify forward-looking statements, although not
all forward-looking statements contain these identifying words.
Idera cannot guarantee that it will actually achieve the plans,
intentions or expectations, including without limitation the
proposed financial benefits of the agreement referred to herein,
disclosed in its forward-looking statements and you should not
place undue reliance on the Company's forward-looking statements.
There are a number of important factors that could cause Idera's
actual results to differ materially from those indicated or implied
by its forward-looking statements. Factors that may cause such a
difference include: whether results obtained in preclinical studies
and clinical trials such as the preclinical data described in this
release will be indicative of the results that will be generated in
future clinical trials, including in clinical trials in different
disease indications; whether products based on Idera's technology
will advance into or through the clinical trial process on a timely
basis or at all and receive approval from the United States Food
and Drug Administration or equivalent foreign regulatory agencies;
whether, if the Company's products receive approval, they will be
successfully distributed and marketed; and such other important
factors as are set forth under the caption "Risk Factors" in the
Company's Annual Report on Form 10-Q for the period ended September
30, 2015. Although Idera may elect to do so at some point in the
future, the Company does not assume any obligation to update any
forward-looking statements and it disclaims any intention or
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or
otherwise.
Investor and Media Contact
Robert Doody
VP, IR & Corporate Communications
617-679-5515 (office)
484‐639‐7235 (mobile)
rdoody@iderapharma.com
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