US-based Isis Pharmaceuticals has signed an exclusive licence agreement with Bayer HealthCare to develop and commercialise ISIS-FXIRx to prevent thrombosis.

ISIS-FXIRx is an antisense drug that is currently under development to prevent clotting disorders and it targets Factor XI, a clotting factor produced in the liver that is a crucial component of the coagulation pathway.

Isis Pharmaceuticals CEO Dr Stanley Crooke said: "We are pleased with the value of this partnership, which supports a robust development programme to maximise the value of ISIS-FXIRx globally and which allows us to participate significantly in future commercial success."

"This first-in-class FXI inhibitor perfectly complements our in-house thrombosis pipeline and is an innovative development candidate for a variety of anti-coagulation needs."

As part of the deal, Isis will receive up to $155m from Bayer, including an immediate $100m up-front payment.

Isis will also receive a $55m payment upon advancement of the programme following a Phase II study in patients with compromised kidney function and it is eligible to secure milestone payments, once the drug advances to commercialisation.

In addition, the company will receive tiered royalties in the low to high 20% range on gross margins of ISIS-FXIRx.

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Bayer will take the responsibility for global clinical development and worldwide regulatory and commercialisation of the antisense drug, after completion of ongoing activities at Isis.

Under the clinical development programme, Bayer will assess the therapeutic profile of the antisense drug in patients for whom currently available anticoagulants may not be used, such as in patients with a high risk of bleeding due to multiple co-morbidities.

Bayer HealthCare executive committee member and global development head Dr Joerg Moeller said: "This first-in-class FXI inhibitor perfectly complements our in-house thrombosis pipeline and is an innovative development candidate for a variety of anti-coagulation needs."