---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-000929"
form_type: "8-K"
ticker: "IONS"
cik: "0000874015"
company_name: "IONIS PHARMACEUTICALS INC"
filed_at: "2023-01-09T23:59:59+00:00"
generated_at: "2026-06-20T18:26:48.292694+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ionis sells SMA and Pelacarsen royalties to Royalty Pharma for $500M upfront, up to $625M in milestones

## Summary
- Sold 25% of Biogen SMA royalties (25% 2023-2027, 45% thereafter) and 25% of Novartis Pelacarsen royalties.
- Initial purchase price $500M; additional milestone payments up to $625M, subject to achievement.
- SMA royalty capped at $475M or $550M depending on timing of Pelacarsen FDA approval.
- Covenants restrict amending/terminating underlying license agreements; extra payments if competing product commercialized.

## SEC filing metadata
- accession: 0001140361-23-000929
- form_type: 8-K
- ticker: IONS
- cik: 0000874015
- company_name: IONIS PHARMACEUTICALS INC
- filed_at: 2023-01-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874015/000114036123000929/0001140361-23-000929-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874015/000114036123000929/brhc10046438_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-000929
- JSON: https://secwatch.observer/filing/0001140361-23-000929.json
- Plain text: https://secwatch.observer/filing/0001140361-23-000929.txt

## Key facts
- Material Agreements
  IONIS PHARMACEUTICALS INC entered into Purchase Agreement with Royalty Pharma Investments 2019 ICAV valued at $500,000,000 (effective 2023-01-08).
  - Action: entry
  - Agreement: license
  - Counterparty: Royalty Pharma Investments 2019 ICAV
  - Value: $500,000,000
  - Effective: 2023-01-08
  source text: On January 8, 2023, Ionis Pharmaceuticals, Inc. (the “ Company ”) and its wholly-owned subsidiary, Akcea Therapeutics, Inc. (the “ Subsidiary ”) entered into a royalty purchase agreement (the “ Purchase Agreement ”) with Royalty Pharma Investments 2019 ICAV, an Irish collective asset-management vehicle (“ Royalty Pharma ”), pursuant to which the Company and the Subsidiary sold to Royalty Pharma: (i) the Company’s right, title and interest in and to: (A) in respect of net sales by Biogen Idec International Holding Ltd (“ Biogen Idec ”) and Biogen MA (“ Biogen MA ”, and together with Biogen Idec, “ Biogen ”) between January 1, 2023 and December 31, 2027, 25%, and (B) in respect of net sales by Biogen Idec commencing on January 1, 2028, 45% of the royalties payable to the Company on annual worldwide net sales up to $1,500,000,000 pursuant to that certain Development, Option and License Agreement by and between the Company and Biogen Idec dated January 3, 2012, as amended (the “ 2012 Bioge
  evidence_url: https://www.sec.gov/Archives/edgar/data/874015/000114036123000929/0001140361-23-000929-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.