Ionis Pharmaceuticals enters license agreement with Otsuka Pharmaceutical

Ionis Pharmaceuticals announced that it has entered into a license agreement with Otsuka Pharmaceutical under which Otsuka obtains exclusive rights in Europe to commercialize donidalorsen, an investigational prophylactic treatment for hereditary angioedema. Ionis will maintain responsibility for the non-clinical and clinical development of donidalorsen, and Otsuka will be responsible for European regulatory filings and commercialization. Ionis plans to independently launch donidalorsen in the U.S. if approved, as part of the company’s strategy to deliver a steady flow of wholly owned medicines to patients. Otsuka brings expertise in delivering rare disease medicines to patients, a robust commercial infrastructure, and deep knowledge of regional and local regulations across European countries. As part of the agreement, Ionis will receive a $65M upfront payment and milestone payments based on achievement of regulatory and sales targets. Ionis is also eligible to earn tiered royalties ranging from 20%-30% (based on aggregate annual net sales).