Release Details

• Larger facility will significantly increase Ionis' development chemistry and manufacturing capabilities
• Sudberry Properties will build the facility and lease to Ionis for 20-plus years; Ionis retains option to renew and right of first offer to purchase the property

CARLSBAD, Calif., Oct. 12, 2022 /PRNewswire/ -- Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) today announced that it has entered into an agreement with Sudberry Properties to develop and lease a new development chemistry and manufacturing site in Oceanside, Calif. Sudberry will develop and construct the shell for the approximately 217,000-square-foot building. Ionis will design and construct improvements to customize the facility. Under the terms of the agreement, Ionis will lease the property for 20 years, with two 10-year options to renew and a right of first offer to purchase the property.

"From our inception, Ionis has been committed to discovering and developing transformational medicines for patients who depend on us. Our new Oceanside campus will provide the capacity we need to support our growing pipeline, new technologies and chemistries," said Brett P. Monia, Ph.D., Ionis' chief executive officer. Dr. Monia added, "We're proud to have established and grown our business in North County, San Diego over the last 30 years and delighted that we will continue to grow here for decades to come."

The new facility will include advanced sustainability and environmental protection features such as generating 50% of its power from solar panels and renewable offset, increased automation to reduce manual material handling, emissions controls and spill containment for all production areas. Ionis expects to occupy the new facility in 2025, with active pharmaceutical ingredient ("API") manufacturing beginning in mid-2026. At approximately 217,000 square feet, the new facility will be more than double the size of Ionis' existing development chemistry and manufacturing facility, which is in Carlsbad.

Sudberry Properties is a San Diego-based real estate development and asset management company.

About Ionis Pharmaceuticals, Inc.

For more than 30 years, Ionis has been the leader in RNA-targeted therapy, pioneering new markets and changing standards of care with its novel antisense technology. Ionis currently has three marketed medicines and a premier late-stage pipeline highlighted by industry-leading cardiovascular and neurological franchises. Our scientific innovation began and continues with the knowledge that sick people depend on us, which fuels our vision of becoming a leading, fully integrated biotechnology company.

To learn more about Ionis, visit www.ionispharma.com and follow us on Twitter @ionispharma.

Ionis' Forward-looking Statements

This press release includes forward-looking statements regarding Ionis' business and the therapeutic and commercial potential of Ionis' technologies. Any statement describing Ionis' goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, including but not limited to those related to our commercial products and the medicines in our pipeline, and particularly those inherent in the process of discovering, developing and commercializing medicines that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such medicines. Ionis' forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements.

Although Ionis' forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Ionis. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Ionis' programs are described in additional detail in Ionis' annual report on Form 10-K for the year ended Dec. 31, 2021, and the most recent Form 10-Q quarterly filing, which are on file with the Securities and Exchange Commission. Copies of these and other documents are available from the Company.

In this press release, unless the context requires otherwise, "Ionis," "Company," "we," "our," and "us" refers to Ionis Pharmaceuticals and its subsidiaries.

Ionis Pharmaceuticals® is a trademark of Ionis Pharmaceuticals, Inc.

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SOURCE Ionis Pharmaceuticals, Inc.

Ionis Investor Contact: 760-603-2331; Ionis Media Contact: 760-603-4679