Exhibit 10.1

 

CONFIDENTIAL

CONFIDENTIAL TREATMENT REQUESTED

Execution Copy

UNDER 17 C.F.R §§ 200.80(b)4, AND 240.24b-2

 

AMENDMENT #1 TO RESEARCH, DEVELOPMENT AND LICENSE AGREEMENT

 

This AMENDMENT #1 TO THE RESEARCH, DEVELOPMENT AND LICENSE AGREEMENT (this
“Amendment”) is entered into and made effective as of the 11th day of May, 2011
(the “Amendment Date”) by and between Isis Pharmaceuticals, Inc., a Delaware
corporation having its principal place of business at 1896 Rutherford Road,
Carlsbad, CA 92008 (“Isis”), and Glaxo Group Limited, a company existing under
the laws of England and Wales, having its registered office at Glaxo Wellcome
House, Berkeley Avenue, Greenford, Middlesex, UB6 0NN, England (“GSK”). Isis and
GSK are each referred to herein by name or as a “Party” or, collectively, as
“Parties.”

 

RECITALS

 

WHEREAS, Isis and GSK are parties to the Research, Development and License
Agreement dated March 30, 2010, as amended (the “Agreement”); and

 

WHEREAS, GSK and Isis mutually desire to select the sixth (6th) Collaboration
Target under the Agreement and make certain amendments to the Agreement.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein
contained, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties, intending to be
hereby bound, do hereby agree as follows:

 

1.               6th Collaboration Target. Isis and GSK agree that [***] is the
sixth (6th) Collaboration Target under the Agreement; and GSK will pay Isis the
$3,000,000 fee required under Section 1.4.1 of the Agreement by June 11, 2011.

 

2.               Research [***] Study. As contemplated by Section 1.4.1(c)(i) of
the Agreement, by [***] Isis will provide the JSC an initial research plan 
delineating the experiments that should be conducted to achieve [***] for the
sixth (6th) Collaboration Target (“Research Plan”). The Research Plan will
designate the [***] (agreed to by the JSC) designed both to demonstrate [***]
for the sixth (6th) Collaboration Program [***].

 

3.               Right to Expand 6th Collaboration Program; Final Target
Selection.

 

a.               Collaboration Program Expansion Right. During the 30 day period
following GSK’s receipt of a written notice from Isis regarding the completion
of the [***] together with a data package summarizing the [***] for [***], GSK
may temporarily expand the sixth (6th) Collaboration Program to include an
additional gene target, which will either be (i) [***]; (ii) [***]; or
(iii) [***] (or such other target mutually agreed in writing by Isis and GSK)
(the “Additional Target”), by providing Isis written notice thereof and a
payment of $[***].

 

b.              Additional Target Research. If GSK exercises its expansion
right, then the Additional Target will be included in the sixth (6th)
Collaboration Program. As contemplated by Section 1.4.1(c)(i) of the Agreement,
within 90 days after adding the Additional Target, Isis will provide the JSC an
initial Research Plan and the [***] for the Additional Target. If [***] is
achieved for both [***] and the Additional Target, GSK will not be obligated to
pay the [***] payment twice.

 

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c.               Final Selection of 6th Collaboration Target. During the 30 day
period following GSK’s receipt of a written notice from Isis regarding the
completion of the [***] together with a data package summarizing the [***] for
the Additional Target (the “Final Selection Date”), GSK will choose either [***]
or the Additional Target to be the sixth (6th) Collaboration Target by providing
Isis written notice thereof. If GSK does not provide Isis with timely written
notice of its selection then [***] will be the sixth (6th) Collaboration Target.
After the Final Selection Date, the gene target not selected as the sixth (6th)
Collaboration Target (the “Unselected Target”) will no longer be a Collaboration
Target and ASOs targeting the Unselected Target will no longer be Compounds
under the Agreement, and Isis’ obligations and GSK’s rights under the Agreement
with respect to the Unselected Target and ASOs targeting the Unselected Target
will terminate.

 

Capitalized terms not otherwise defined herein will have the meanings given in
the Agreement. Except as otherwise expressly amended by this Amendment, the
Agreement remains in full force and effect in accordance with its terms.

 

* - * - * - *

 

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IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed by
their duly authorized representatives as of the Amendment Date.

 

 

Isis Pharmaceuticals, Inc.

 

 

 

 

By:

/s/ B. Lynne Parshall

 

 

 

 

Name:

B. Lynne Parshall

 

 

 

 

Title:

Chief Operating Officer and Chief Financial Officer

 

 

 

 

Date:

6 May 2011

 

 

 

 

 

 

 

Glaxo Group Limited

 

 

 

 

By:

/s/ Paul Williamson

 

 

 

 

Name:

Paul Williamson

 

 

 

 

Title:

Authorised Signatory For and on behalf of Edinburgh

 

 

Pharmaceutical Industries Limited Corporate Director

 

 

 

Date:

13 May 2011

 

 

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