The company said that the new delivery approaches seek to target the desired tissue more effectively.
The deal builds on an existing collaboration between the two firms, and supports AstraZeneca’s research and development capabilities in the area of antisense oligonucleotide-based therapeutics and RNA biology.
The collaboration will initially focus in the areas of oncology and cardiovascular and metabolic diseases (CVMD).
Antisense oligonucleotides are short, single strands of DNA or RNA molecules and they act before proteins are produced at the level of messenger RNA in the cell rather than modulating the activity of already-formed proteins.
The company said that the new delivery methods will aim to improve the access of antisense oligonucleotides into specific organs and cells.
These methods are based on Isis’ Ligand Conjugation Antisense (LICA) technology.
AstraZeneca head of the Oncology Innovative Medicines Unit Susan Galbraith said: "This exciting collaboration very much supports AstraZeneca’s research and development in the area of RNA-based therapeutics.
"If successful, we’ll have a way to selectivity modulate therapeutic targets in specific cell types that are intractable to small molecules and antibodies.
"This could lead to a number of ground breaking drugs for both oncology and cardiovascular and metabolic diseases."
As part of the deal, each party will fund its own contribution and commit investigators to the collaboration.
The parties will also work together on an agreed program and share rights to the results in line with AstraZeneca’s open innovation approach.