F. Hoffmann-La Roche AG / Ionis Pharmaceuticals, Inc.
2023 · Licensing/Option · $760M · Complete
Announcement Sentiment
63
Positive
Roche licensed two early-stage RNA-targeted programs from Ionis for Alzheimer's and Huntington's disease. Ionis received $60M upfront with eligibility for up to ~$700M in development, regulatory and commercial milestones plus tiered royalties. Ionis advances preclinical work; Roche leads clinical development and commercialization. By Q4 2025 the Alzheimer's program had advanced from preclinical into a Phase 1 trial, triggering a $50M development milestone to Ionis (disclosed on Ionis's Q4 2025 earnings call) and marking the first clinical-stage progress under the partnership.