Printer Friendly

Isis receives USD1.25m as payment from Pfizer under EXC 001 development programme.

M2 EQUITYBITES-November 5, 2012-Isis receives USD1.25m as payment from Pfizer under EXC 001 development programme(C)2012 M2 COMMUNICATIONS http://www.m2.com

Discoverer and developer of drugs Isis Pharmaceuticals Inc (Nasdaq:ISIS) will receive a USD1.25m contingent payment from Pfizer Inc (NYSE:PFE), Isis said on Friday.

This payment is triggered by Pfizer's decision to advance EXC 001 into a Phase 2 study.

Prior to this, in 2011, Isis had received USD4.4m for its equity ownership of Excaliard from Pfizer's acquisition of Excaliard Pharmaceuticals and, excluding the USD1.25m, is eligible to receive an additional USD8.35m in contingent payments upon achievement of various milestones associated with the clinical and commercial progress of EXC 001, also referred to as PF-06473871.

Also, Isis remains eligible to receive milestone and royalty payments under its licensing agreement with Excaliard for EXC 001.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2012 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Nov 5, 2012
Words:154
Previous Article:Abbott and the Abbott Fund awards USD1m in aid of Hurricane Sandy relief efforts.
Next Article:Investcorp announces USD140m deal to buy luxury retailer Georg Jensen.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters