Isis Pharmaceuticals To Receive $10 Million Payment

December 22, 2009 (FinancialWire) — Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) said it will receive a $10 million payment from OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) as a result of OncoGenex’ license of cancer drug OGX-011 to Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA).

OGX-011 is a second-generation antisense drug co-discovered by Isis and OncoGenex that has completed a Phase 2 program in patients with advanced prostate cancer and advanced non-small cell lung cancer.

Teva and OncoGenex will collaborate on a global Phase 3 clinical program for OGX-011 in patients with prostate and non-small cell lung cancer.

California-based Isis is exploiting its work in RNA to discover and develop novel drugs for its product pipeline and for its partners. The company has commercialized an antisense drug and has 21 drugs in development

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