Akcea, Ionis Close Licensing Agreement with Pfizer on New Drug

Date : 11/19/2019 @ 10:52PM
Source : Dow Jones News
Stock : Akcea Therapeutics Inc (AKCA)
Quote : 19.3  -0.19 (-0.97%) @ 4:59AM
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Akcea, Ionis Close Licensing Agreement with Pfizer on New Drug

Akcea Therapeutics (NASDAQ:AKCA)
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   By Stephen Nakrosis 
 

Akcea Therapeutics Inc. (AKCA) and Ionis Pharmaceuticals Inc. (IONS) said Tuesday they closed an exclusive licensing deal with Pfizer Inc. (PFE) for AKCEA-ANGPTL3-L(Rx).

The companies said AKCEA-ANGPTL3-L(Rx) is an investigational therapy discovered by Ionis which is being developed for the treatment of certain cardiovascular and metabolic diseases.

Under the terms of the deal, Pfizer will receive an exclusive license to develop, make and commercialize AKCEA-ANGPTL3-L(Rx) worldwide.

Akcea and Ionis will receive $250 million upfront license fee, to be split equally. Akcea, which is a majority-owned affiliate of Ionis, will settle its $125 million obligation to Ionis in Akcea common stock, the companies said.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

November 19, 2019 17:37 ET (22:37 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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