Isis has granted Excaliard an exclusive worldwide license for the development and commercialization of certain antisense drugs. Excaliard made an upfront payment to Isis in the form of equity and paid Isis $1 million cash for the licensing of a particular gene target. In addition, Isis is eligible to receive development milestones and royalties on antisense drugs developed by Excaliard.
Lynne Parshall, executive vice president and CFO of Isis, said: “Excaliard will benefit from access to our technology and intellectual property and join a growing list of partners who have focused teams dedicated to advancing antisense drugs and who enable us to continue to expand the breadth of our antisense drug pipeline.”