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Ionis earns $10M milestone payment from Biogen for Alzheimer's study

Ionis Pharmaceuticals Inc. said it earned a $10 million milestone payment from Biogen Inc. upon initiation of the phase 1/2a trial of IONIS-MAPT in patients with mild Alzheimer's disease.

Ionis and Biogen are jointly developing novel therapies, such as the antisense drug Spinraza, to treat neurological disorders.

Under their partnership, the companies are developing IONIS-SOD1 for amyotrophic lateral sclerosis, as well as IONIS-BIIB5, IONIS-BIIB6 and IONIS-BIIB7 for undisclosed neurodegenerative diseases.