Here are four things to know:
1. The drugs are intended to lower cardiovascular risk in patients with high levels of lipoproteins.
2. Carlsbad, Calif.-based Ionis and Cambridge, Mass.-based Akcea are eligible to receive $225 million in near-term payments, along with a $75 million in upfront option payment and a $100 million equity investment in Ionis, according to the report.
3. The deal is valued at more than $1 billion when including license fees, milestone payments and royalties if both drugs are successfully licensed and commercialized.
4. Basel, Switzerland-based Novartis will be responsible for the worldwide development and commercialization of both drugs, pending the completion of specific development milestones and successful trial results.
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