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Kastle Therapeutics, LLC

Drug Names(s): Mipomersen Sodium (SC), subcutaneous ISIS 301012

Description: Mipomersen is ISIS' second-generation antisenseinhibitor of apoB-100. Data from the Phase 1 trial showed that subcutaneously administered Mipomersen produced rapid and prolonged reductions of its target, apoB-100, aswell as low density lipid (LDL), very low density lipid (VLDL) and totalcholesterol in healthy volunteers with elevated cholesterol. ApoB-100 is thesole lipoprotein of LDL cholesterol, the bad lipid involved in heartdisease.

Deal Structure: Genzyme and Isis
On April 7, 2006, Isis announced that it completed a transaction with Symphony Capital Partners, L.P. and a group of co-investors to provide $75 million to fund the development of Isis' cholesterol-lowering drug, ISIS 301012, and two drugs from Isis' metabolic disease program.

Symphony Capital formed Symphony GenIsis, Inc., capitalized with $75 million. Isis licensed to Symphony GenIsis the intellectual property for its apoB-100, glucagon receptor (GCGR) and glucocorticoid receptor (GCCR) programs. Isis has received an exclusive purchase option from Symphony GenIsis' investors that will allow Isis to reacquire the intellectual property by purchasing all of Symphony GenIsis' equity at a predetermined price that reflects a compounded annual rate of return that averages 32% and is 27% at the end of the anticipated four-year collaborative development period. The option exercise may be paid in cash or a combination of cash and Isis common stock (up to 33% of...See full deal structure in Biomedtracker

Partners: Ionis Pharmaceuticals, Inc.

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