Cooley advised Isis Pharmaceuticals Inc. on a global collaboration, option and license agreement with Janssen Biotech Inc. to discover and develop antisense drugs to treat autoimmune disorders of the GI tract. Pursuant to the agreement, Isis will receive $35 million in up-front payments for three programs, including a payment to initiate human lead optimization on the first collaboration target. Isis is also eligible to receive nearly $800 million in development, regulatory and sales milestone payments and license fees for the programs.