Ionis and Akcea Enter into Strategic Collaboration with Global Pharmaceutical

Ionis Pharmaceuticals Inc. (NASDAQ: IONS) and Akcea Therapeutics, a wholly-owned subsidiary of Ionis Pharmaceuticals, Inc., today announced an exclusive, worldwide option and collaboration agreement with Novartis to develop and commercialize AKCEA-APO(a)-LRx and AKCEA-APOCIII-LRx. Ionis and Akcea are eligible to receive $225 million in near-term payments, including an immediate $75 million up-front option payment and a $100 million equity investment in Ionis, which equates to 1,631,435 shares at $61.30 per share. Ionis and Akcea are also eligible to receive a license fee as well as development, regulatory and commercial milestone payments as each drug advances. In addition, Ionis and Akcea are eligible to receive tiered royalties in the mid-teens to low twenty percent range on net sales of each drug.