Isis Pharmaceuticals, Inc. (Isis) is engaged in antisense technology, exploiting a drug discovery platform to create a pipeline of drugs. The Company operates in a two principal segments: Drug Discovery and Development and Regulus Therapeutics Inc. Within the Drug Discovery and Development segment, its drug discovery platform enables the Company to identify drugs, providing potential targets to treat a range of diseases. As of December 31, 2008, the Company has 19 drugs in development. Its partners are licensed to develop, with the Company’s support, 15 of these 19 drugs. The Company and Alnylam established Regulus Therapeutics Inc. as a company focused on the discovery, development and commercialization of microRNA therapeutics. In January 2009, the Company sold its subsidiary, Ibis Biosciences, Inc. to Abbott Molecular Inc. (AMI), a wholly owned subsidiary of Abbott Laboratories.