06:37 AM EDT, 03/12/2025 (MT Newswires) -- Ionis Pharmaceuticals ( IONS ) said Tuesday that it has entered into a license agreement with Ono Pharmaceutical to obtain exclusive global rights for the development and commercialization of sapablursen, an investigational medicine for polycythemia vera, a type of blood disorder disease.

The company said it will receive a $280 million upfront payment from Ono Pharmaceutical, with the potential to earn up to $660 million in additional milestone payments and it will also be eligible to earn royalties on annual net sales of sapablursen.

Ionis will be responsible for the completion of the ongoing phase 2 IMPRSSION study evaluating sapablursen in adults with polycythemia vera, while Ono will be responsible for subsequent development, regulatory filings and commercialization.