  Isis Pharmaceuticals,  Inc. (Carlsbad, CA), has purchased Symphony GenIsis for $120 million. As part  of the Symphony GenIsis purchase price, Isis paid Symphony Capital $80.4  million in cash and approximately 3.4 million shares of Isis stock, for an  aggregate value of $39.6 million based on a 60-day average closing price before  the date Isis exercised the repurchase. 

  Symphony GenIsis was  formed in April 2006 by Symphony Capital Partners, L.P., and capitalized with  $75 million to fund the development of three of Isis’ drugs. As part of that  transaction, Isis licensed to Symphony GenIsis its cholesterol-lowering ISIS  301012 drug program, which targets apolipoprotein B-100, and two diabetes programs  for the development of ISIS 325568 and ISIS 377131.

  On September 13,  2007, Isis announced its metabolic disease-focused collaboration with  Ortho-McNeil, Inc., to discover, develop, and commercialize up to four  antisense drugs, which prompted the purchase of GenIsis. The collaboration  includes licensing of two of the drugs previously held by Symphony GenIsis-ISIS  325568 and ISIS 377131-that target glucagon and glucocorticoid receptor. 

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Isis Pharmaceuticals, Inc. (Carlsbad, CA), has purchased Symphony GenIsis for $120 million.