IONIS PHARMACEUTICALS, INC. (NASDAQ:IONS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
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Entry into a Material Definitive Agreement. |
On January 6, 2017, Ionis Pharmaceuticals, Inc. (Ionis), Akcea
Therapeutics, Inc. (Akcea), a wholly owned subsidiary of Ionis,
and Novartis Pharma AG (Novartis) announced they have entered
into an exclusive, worldwide option and collaboration agreement
under which the companies will develop and commercialize
AKCEA-APO(a)-LRx and AKCEA-APOCIII-LRx.
Ionis and Akcea filed a press release describing this
transaction. A copy of this press release is attached as Exhibit
99.1 to this Current Report and incorporated herein by reference.
Item 3.02. |
Unregistered Sales of Equity Securities. |
The information set forth in Item 1.01 is incorporated herein by
reference.
As part of the transaction, Novartis will make a $100 million
equity investment in Ionis, which equates to 1,631,435 shares of
Ionis common stock at $61.30 per share. Novartis has an
obligation to make a further equity investment of $50 million in
the next 18 months in either Ionis at the same premium as the
initial investment or in Akcea. The shares will be issued only to
an accredited investor, as such term is defined in Rule 501 of
Regulation D promulgated under the Securities Act of 1933, as
amended (the Securities Act). The shares have not been registered
under the Securities Act or any state securities laws. Ionis
relied on the exemption from the registration requirements of the
Securities Act set forth in Section 4(2) thereof and the rules
and regulations promulgated thereunder. Neither this Current
Report nor any of the exhibits attached hereto is an offer to
sell or the solicitation of an offer to buy shares of common
stock or other securities of Ionis.
Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits.
99.1 |
Press Release dated January 6, 2017.
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About IONIS PHARMACEUTICALS, INC. (NASDAQ:IONS)
Ionis Pharmaceuticals, Inc., formerly Isis Pharmaceuticals, Inc., is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform. The Company’s Akcea Therapeutics segment consists of the operations of its subsidiary, Akcea Therapeutics, Inc., which develops and commercializes drugs for cardiometabolic disorders. The Company is developing transformational drugs, which include nusinersen, IONIS-TTR and volanesorsen that are designed to treat patients with orphan diseases. In addition to its Phase III programs, the Company has a pipeline of drugs in Phase II development, which includes IONIS-FXI and IONIS-APO(a)-L. Its Phase II pipeline includes drugs to treat patients with severe and rare diseases, viral infections, ocular diseases, metabolic disorders and cardiovascular diseases. IONIS PHARMACEUTICALS, INC. (NASDAQ:IONS) Recent Trading Information
IONIS PHARMACEUTICALS, INC. (NASDAQ:IONS) closed its last trading session up +0.31 at 48.14 with 2,050,724 shares trading hands.