The agreement allows Isis to sell registered shares of its common stock at a small discount to the market price to Azimuth Opportunity over the next 18 months.
Isis said that it will use the net proceeds from the sale of the securities to help it to advance ISIS 113715 for the treatment of type 2 diabetes. And the preclinical drugs ISIS 369645 for the treatment of asthma and ISIS 353512 for the treatment of cardiovascular disease and inflammation.
In addition, these funds will be used to accelerate the commercialization of Isis’ IBIS biosensor system, the IBIS T-5000, a system to identify infectious organisms.