Isis Pharmaceuticals, Inc. has earned a $10 million milestone payment from Biogen Idec for initiating the investigational new drug (IND)-supporting studies of ISIS-BIIB4_Rx, a drug candidate designed to inhibit an undisclosed target to treat a neurodegenerative disease. ISIS-BIIB4_Rx is the fourth drug to enter development under the companies’ collaboration.

Isis is eligible to receive as much as $249 million in additional milestone payments and a license fee, as well as royalties from sales of ISIS-BIIB4_Rx.

“Our collaboration with Biogen Idec is one of the most productive collaborations we have.  We have significantly expanded the application of our technology in neurology, and we now have four drugs in development as part of our broad Biogen Idec collaboration. As each of these programs advances, not only will we continue to earn additional milestone payments, but we will also continue to benefit from Biogen Idec’s active participation in these programs, lending their resources and expertise,” said C. Frank Bennett, Ph.D., senior vice president of research at Isis Pharmaceuticals.