Ionis licenses sapablursen to Ono for $280M upfront, up to $660M milestones and mid-teen royalties

IONIS PHARMACEUTICALS INC

$280M upfront payment; up to $660M in development, regulatory and sales milestones.
Sapablursen is an investigational RNA-targeted medicine for polycythemia vera; has FDA orphan drug and Fast Track designations.
Ono receives exclusive global rights; Ionis completes Phase 2 IMPRSSION study, Ono handles subsequent development and commercialization.
Ionis eligible for royalties in the mid-teen percentage range on annual net sales of sapablursen.
Transaction subject to Hart-Scott-Rodino Antitrust Improvements Act (HSR) review.

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