1. Scrip
  2. >>Business

Ionis Sells Kynamro To Kastle After Regaining Rights From Genzyme

 
• By Mandy Jackson

Three and a half months after Ionis Pharmaceuticals Inc. surprised investors with the news that Sanofi's Genzyme business unit would no longer market Kynamro (mipomersen) for homozygous familial hypercholesterolemia (HoFH), the Carlsbad, California-based biotechnology company revealed that it sold global rights to the cholesterol-lowering drug to Kastle Therapeutics LLC for up to $95m.

Kastle will give Ionis a 10% stake in the newly-founded, Chicago-based biotech company and it will pay Ionis (formerly Isis Pharmaceuticals) $15m up front plus another $10m in three years and up to $70m in sales milestone fees. Ionis will earn royalties in the low to mid-teens beginning in 2017. Sanofi Genzyme is entitled to a 3% royalty on Kynamro sales and 3% of the fees that Ionis earns from Kastle, which was formed in 2015 to buy, develop and commercialize medicines for unmet medical needs (Also see "JPM: Ionis Looks Past Kynamro To Profitability" - Scrip, 13 January, 2016.).

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business

Genentech To Try Repertoire’s Immune Synapse Technology In Autoimmune Disease

 
• By Joseph Haas

Deal snapshot: The Flagship portfolio firm will use its Decode platform to seek novel targets for an unspecified autoimmune disease, with Genentech holding license rights.

Veraxa Takes SPAC Route To Develop Bispecific ADCs and T-Cell Engagers

 
• By Andrew McConaghie

The Swiss biotech firm could go public on the NASDAQ later this year, and points to other preclinical dealmaking in the space to back its strategy.

In Brief: Synthetic Design Lab Debuts With $20m To Advance Cutting-Edge ADCs

 
• By Sushmita Panda

As ADCs continue to be a growth area globally, a new US-based venture with novel platform technology has emerged from stealth mode with $20m in funding.

In Brief: DIOSynVax And ACM Biolabs To Develop Bird Flu Vaccine

 
• By Sushmita Panda

The collaboration, supported by UK and Singapore government agencies, aims to develop an mRNA-based, needle-free universal bird flu vaccine suitable for use in a pandemic.

More from Scrip

Veraxa Takes SPAC Route To Develop Bispecific ADCs and T-Cell Engagers

 
• By Andrew McConaghie

The Swiss biotech firm could go public on the NASDAQ later this year, and points to other preclinical dealmaking in the space to back its strategy.

Pipeline Watch: Eight Approvals And Three Phase III Readouts

Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.

In Brief: Synthetic Design Lab Debuts With $20m To Advance Cutting-Edge ADCs

 
• By Sushmita Panda

As ADCs continue to be a growth area globally, a new US-based venture with novel platform technology has emerged from stealth mode with $20m in funding.