Amgen, Arrowhead Pharma Agree to Cardiovascular Collaboration
September 29 2016 - 8:51AM
Dow Jones News
By Ciara Linnane
Amgen Inc. and Arrowhead Pharmaceuticals Inc. on Thursday said
they have agreed to two collaboration agreements to develop and
commercialize RNA interference therapies for cardiovascular
disease.
Under one agreement, Amgen will receive an exclusive license
option to Arrowhead's proprietary subcutaneous RNAi delivery
platform. RNAi molecules can be used to target and eliminate
specific gene products that contribute to some diseases, the
companies said in a statement.
Under a second agreement, Agmen will have an option to a
world-wide, exclusive license for a RNAi therapy for an undisclosed
genetically validated cardiovascular target.
"In both agreements, Amgen will be wholly responsible for
clinical development and commercialization," the statement
said.
Arrowhead will receive $56.5 million in upfront payments, an
equity investment, royalties and up to $617 million more in
potential milestone and equity payments.
Arrowhead shares rose 14.5% to $8.06 in premarket trading, while
Amgen was unchanged.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 29, 2016 09:36 ET (13:36 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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