Isis Pharmaceuticals licenses antibiotics to Achaogen for $1.5 million in stock

By Angela McDaniels

Seattle, Jan. 31 - Isis Pharmaceuticals Inc. said it has granted an exclusive, worldwide license for its proprietary aminoglycosides antibiotic program to Achaogen in exchange for $1.5 million of Achaogen stock, future milestone payments for key clinical and regulatory achievements and royalties on product sales.

Achaogen will be solely responsible for the continued development of the aminoglycoside antibiotic products, which inhibit bacterial protein synthesis and are used to treat serious bacterial infections.

"This licensing agreement will allow us to benefit from Achaogen's expertise and highly focused research efforts in developing therapies against drug-resistant bacteria, while Achaogen will benefit from our aminoglycoside research and access to our intellectual property," C. Frank Bennett, senior vice president of Isis' Antisense Research division, said in a company news release.

"This transaction with Achaogen is another example of our successful satellite company partnering program. Through these relationships, we are expanding the reach and potential of our research programs and participating in the success of multiple companies and products."

Achaogen is a biotechnology company based in South San Francisco that develops products to combat drug-resistant pathogens.

Isis is a pharmaceutical company based in Carlsbad, Calif.

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