Swiss pharmaceutical giant Novartis AG (NYSE: NVS) has returned to US-based Ionis Pharmaceuticals Inc., (NASDAQ: IONS) for a collaboration and license agreement aimed at the discovery, development, and commercialization of a novel drug for patients with lipoprotein(a) (Lp(a))-driven cardiovascular disease (CVD).
Building on a Successful Partnership
Novartis and Ionis previously formed a long-term collaboration in 2017, which resulted in the development of pelacarsen, a first-in-class drug designed to target Lp(a) and reduce the risk of CVDs. The drug is currently in the Phase III stage. Novartis is now looking to Ionis to develop a follow-on next-generation product to succeed pelacarsen.
Financial Terms of the Deal
The new deal involves a USD 60 million upfront payment from Novartis to Ionis, along with undisclosed milestone payments. Novartis will also pay royalties on any future sales of the drug. Novartis will take on the sole responsibility for the development, manufacturing, and commercialization of the next-generation Lp(a) therapy that emerges from this agreement.-Fineline Info & Tech
