By Kyle Morris

 

AstraZeneca PLC said Wednesday that it has secured a development and commercialization agreement with Ionis Pharmaceuticals Inc. for eplontersen.

The Anglo-Swedish pharmaceuticals company said the agreement comprises an upfront payment to Ionis of $200 million and additional conditional payments of up to $485 million, subject to regulatory approvals. AstraZeneca said it will also pay up to $2.9 billion in sales-related milestones based on sales thresholds between $500 million and $6 billion. Additionally, further royalties in the percentage range of low double digits to mid-20s will be made depending on the region, the company said.

AstraZeneca and Ionis will jointly develop and commercialize eplontersen in the U.S., while AstraZeneca will develop and commercialize the drug in the rest of the world, except Latin America, it said.

The deal will be funded in cash and is expected to be neutral to core earnings in 2021, the company said.

Eplontersen is a ligand-conjugated antisense investigational medicine for the treatment of all types of transthyretin amyloidosis.

 

Write to Kyle Morris at kyle.morris@dowjones.com

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(END) Dow Jones Newswires

December 29, 2021 02:39 ET (07:39 GMT)

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