Did Novartis get $150M worth of positive PhII cardio data from Akcea?
Akcea has $150 million riding on the Phase II data it just posted for a cardio drug.
The company $AKCA, a closely held affiliate of Ionis $IONS, says that APO(a)-LRx — partnered with Novartis — proved in Phase II that it could significantly reduce high Lp(a) levels in at-risk cardio patients. That’s a key biomarker for cardio risk.
Back in early 2017 Novartis handed over $225 million in near-term payments, split between fees, an upfront and an equity stake, and promised $1.13 billion more in development and commercialization milestones for a worldwide option and collaboration pact on this drug and one other. And they included an option fee of $150 million if the drug passes muster in the upcoming end-of-Phase II meeting with the FDA, pointing them to a big Phase III program.
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