GlaxoSmithKline PLC exercised its option to license Ionis Pharmaceuticals Inc.'s antisense medicines to treat chronic hepatitis B for a fee of $25 million.
The license agreement would fetch Carlsbad, Calif.-based Ionis up to $262 million in license fees and milestone payments, including the initial $25 million. Ionis is also eligible to receive royalties on net sales of medicines that are commercialized.
GSK will be responsible for all development, regulatory and commercialization activities and costs of the programs moving forward.
U.K.-based pharmaceutical giant GSK exercised the option after the medicines showed promise in a phase 2 study. Ionis and GSK are reviewing full data from the mid-stage study, and the results will be presented at an upcoming medical congress.
Chronic hepatitis B virus, or CHB, affects the liver and can lead to potentially fatal health conditions, including cirrhosis, liver failure and liver cancer. Currently, there are more than 200 million patients worldwide living with CHB, Ionis said in an Aug. 27 press release.
Ionis COO Brett Monia said the company's antisense technology targets the root cause of CHB-related liver disease and can potentially deliver a transformative medicine for people living with the condition.
Ionis said the transaction is subject to U.S. antitrust clearance.
