Corporate Law News

Ionis Pharmaceuticals Sued Over Drug License With Akcea (1)

Nov. 18, 2019, 6:05 PMUpdated: Nov. 18, 2019, 8:12 PM

Ionis Pharmaceuticals Inc. allegedly forced an unfavorable licensing deal for a “risky and speculative drug” on Akcea Therapeutics Inc., a biopharmaceutical company in which it owns a controlling stake, according to a new investor lawsuit in the Delaware Court of Chancery.

The complaint, filed by a minority shareholder in Akcea, centers on Ionis’s handling of inotersen, a drug it developed with Glaxo Group Limited to treat a rare protein disorder called ATTR Amyloidosis. According to the complaint, Glaxo’s decision to abandon the joint effort left Ionis “scrambling” to find a new partner to commercialize the drug. Ionis ultimately used its...

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