Biogen and Ionis Pharmaceuticals, a Carlsbad, California-based pharmaceutical company, have entered into a collaboration to identify new antisense oligonucleotide drug candidates for treating spinal muscular atrophy (SMA).

Biogen will have the option to license therapies arising out of this collaboration and will be responsible for their development and commercialization.

Under the agreement, Ionis will receive a $25-million upfront payment and will earn development and regulatory milestone payments from Biogen if new drugs advance toward marketing approval. Upon commercialization, Biogen will pay Ionis performance milestones and tiered royalties on net sales.

Source: Biogen