Pharma BD Deal Intelligence

Recordati S.p.A. / Ionis Pharmaceuticals, Inc.

2026 · Licensing/Option · Complete

Ionis Pharmaceuticals granted Recordati exclusive rights to develop and commercialize zilganersen, an investigational RNA-targeted antisense medicine for Alexander disease, in all countries outside the United States. Ionis retains sole US commercial responsibility and continues to lead development globally. Ionis receives USD 30 million upfront, undisclosed additional milestone payments, and tiered royalties of up to the mid-20% range on annual net sales. A regulatory filing for zilganersen in Alexander disease was under FDA review at announcement with a decision expected by September 22, 2026.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal, once/if it closes.

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