Acceptance of initial regulatory filings for BMS-PCSK9Rx triggers $6M milestone payment to Isis Pharmaceuticals

Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) announced today that it has earned a $6 million milestone payment from Bristol-Myers Squibb Company (NYSE: BMY) related to the acceptance of initial regulatory filings to begin Phase 1 clinical studies for BMS-PCSK9Rx. BMS-PCSK9Rx is an antisense drug that arose out of the ongoing collaboration between Bristol-Myers Squibb and Isis to identify antisense drugs targeting PCSK9 to lower low-density lipoprotein (LDL) cholesterol.

"We are pleased with the success of our partnership with Bristol-Myers Squibb, and our ability to deliver a drug candidate within the first year of the collaboration. We are looking forward to Bristol-Myers Squibb initiating a Phase 1 clinical trial shortly. The speed of development of BMS-PCSK9Rx exemplifies the efficiency of our technology and our ability to quickly advance from the discovery of a gene to a drug in the clinic," said Stanley T. Crooke, M.D., Ph.D., Chairman and Chief Executive Officer of Isis. "Targeting PCSK9 offers a unique approach to lowering LDL cholesterol, which is a key component in preventing and managing cardiovascular disease. We continue to advance and mature the breadth and depth of our pipeline and the therapeutic opportunities that we can take advantage of with our technology."

BMS-PCSK9Rx is an antisense drug that targets proprotein convertase subtilisin kexin 9, or PCSK9. PCSK9, a member of a large family of proteases, helps regulate the amount of LDL-cholesterol in the bloodstream through its interactions with the LDL-receptor. Furthermore, genetic studies in humans have demonstrated that elevation in PCSK9 concentrations can lead to severely high concentrations of LDL-cholesterol, whereas low PCSK9 concentrations are associated with low concentrations of LDL-cholesterol. Isis designed BMS-PCSK9Rx to selectively inhibit the production of PCSK9 and to offer a new and complementary mechanism to current lipid-lowering therapies to prevent and treat cardiovascular disease.

SOURCE Isis Pharmaceuticals, Inc.