May 4, 2015 / 1:45 PM / 4 years ago

Bayer buys rights to Isis Pharma's anti-clotting drug

FRANKFURT (Reuters) - German drugmaker Bayer secured the rights to an experimental anti-blood-clotting drug in a deal with California-based Isis Pharmaceuticals to bolster its cardiovascular business led by blockbuster pill Xarelto.

Bayer plans to evaluate the blood-thinning drug, called ISIS-FXI, in frail patients that cannot be given currently available drugs because they are at high risk of bleeding.

While the drug is being tested for the prevention of thrombosis, Bayer plans to look into further uses in the area of anti-coagulation.

Under the agreement, Isis is eligible to an immediate $100 million payment and a $55 million payment depending on the success of a Phase II study in patients with compromised kidney function.

Isis also stands to receive milestone payments as the drug advances to market as well as tiered royalties in the low to high twenty percent range on gross margins of ISIS-FXI.

After completion of ongoing activities at Isis, Bayer will take over all global clinical development as well as worldwide responsibilities for seeking regulatory approval and marketing of the compound.

Reporting by Ludwig Burger; Editing by Edward Taylor

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