KDNY - Chinook Ionis ink pact to develop antisense therapy for kidney disease

2023-05-16 11:49:50 ET

• Chinook Therapeutics ( NASDAQ: KDNY ) stock fell ~6% on Tuesday after the company said it is collaborating with Ionis Pharmaceuticals ( NASDAQ: IONS ) to discover, develop and sell an antisense oligonucleotide (ASO) therapy for a rare, severe chronic kidney disease.
• Under the agreement, Chinook will pay Ionis an undisclosed upfront payment and potential development and regulatory milestone plus royalties.
• Ionis will be responsible for IND-enabling toxicology studies and Chinook will be responsible for clinical development and commercialization, according to the companies.
• The partnership will use Chinook’s precision medicine approach and expertise in nephrology and Ionis' expertise in RNA-targeted therapeutics.
• "Developing an ASO therapy enhances our ability to target key genetic and molecular drivers and expands our precision medicine pipeline for rare severe chronic kidney diseases while continuing to pursue our goal of making dialysis and transplant unnecessary for people living with kidney disease," said Chinook's Chief Scientific Officer Andrew King.

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