Ionis partners with Ono for $940M drug deal

Ionis Pharmaceuticals, based in Carlsbad, has made a deal worth up to $940 million with Ono Pharmaceutical from Japan. The collaboration will focus on Ionis' drug, sapablursen, which targets a rare blood disorder called polycythemia vera. This condition leads to too many red blood cells, potentially causing dangerous blood clots. As part of the agreement, Ono will pay $280 million upfront for the exclusive rights to develop and sell sapablursen globally. Ionis plans to complete the drug’s Phase 2 study and could earn an extra $660 million if it meets certain milestones. The company will also receive royalties based on sales of the drug. Ionis CEO Brett P. Monia stated that the company is dedicated to advancing its own medicines. This includes its current product launches and plans for future growth. In other news, Viking Therapeutics, also based in San Diego, has signed a $150 million manufacturing deal to boost production of its obesity drugs. The company is developing treatments targeting metabolic disorders. The deal will provide the capacity needed for their new drugs, which include a dual agonist similar to existing options like Ozempic and Wegovy. Viking's agreement with CordenPharma will ensure enough supply as demand for these types of medicines rises. Viking will pay CordenPharma $150 million over four years. Meanwhile, Telesis Bio, another local biotech firm, has secured up to $21 million from investors to support its synthetic biology tools. This funding will help the company develop its new platform, Gibson SOLA, which allows researchers to create DNA and RNA in their labs. Lastly, Biocom California is collaborating with Santa Clara University to enhance biotech education. They aim to train teachers to include practical biomanufacturing skills in their programs. The initiative, which has received $500,000 in funding, will help prepare students for careers in the growing biotech industry.