CARLSBAD, Calif., Dec. 5 /PRNewswire-FirstCall/ -- Isis Pharmaceuticals, Inc. announced today that Merck & Co., Inc. has initiated clinical development of a compound that was discovered as part of a funded research collaboration between Merck and Isis scientists. Merck will pay Isis a $1 million milestone payment based on the initiation of clinical trials.
Isis' Senior Vice President of Research, C. Frank Bennett, Ph.D., commented, "We're pleased to see Merck advancing this molecule in clinical trials. The compound was created out of our productive collaboration which took advantage of Isis' expertise in nucleic acid therapeutics. We look forward to Merck's future progress with this compound."
ABOUT ISIS PHARMACEUTICALS, INC.
Isis is exploiting its expertise in RNA to discover and develop novel drugs for its product pipeline and for its partners. The Company has successfully commercialized the world's first antisense drug and has 14 drugs in development. Isis' drug development programs are aimed at treating cardiovascular, metabolic and inflammatory diseases. Isis' partners are focused in disease areas such as ocular, viral and neurodegenerative diseases, and cancer. In its Ibis Biosciences(TM) division, Isis is developing and commercializing the Ibis T5000(TM) Biosensor System, a revolutionary system to identify infectious organisms. As an innovator in RNA-based drug discovery and development, Isis is the owner or exclusive licensee of approximately 1,500 issued patents worldwide. Additional information about Isis is available at www.isispharm.com.
This press release includes forward-looking statements regarding Isis' business, its intellectual property portfolio, and the therapeutic and commercial potential of the Company's technologies and products in development. Any statement describing Isis' goals, expectations, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement, including those statements that are described as Isis' goals. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such products. Isis' forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Isis' forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Isis. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Isis' programs are described in additional detail in Isis' annual report on Form 10-K for the year ended December 31, 2005, and its quarterly report on Form 10-Q for the quarter ended September 30, 2006, which are on file with the SEC. Copies of these and other documents are available from the Company.
Ibis T5000, Ibis Biosciences and Isis Pharmaceuticals are trademarks or registered trademarks of Isis Pharmaceuticals, Inc.
Isis Pharmaceuticals, Inc.CONTACT: Kate Corcoran, Ph.D., Vice President, Corp. Development, IsisPharmaceuticals, Inc., +1-760-603-2331
Web site: http://www.isispharm.com/
