BioCentury
ARTICLE | Company News

Amgen, Arrowhead in pair of CV deals

September 29, 2016 7:00 AM UTC

In two deals with Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR), Amgen Inc. (NASDAQ:AMGN) obtained exclusive, worldwide rights to cardiovascular program ARC-LPA and gained an exclusive option to license a second RNAi therapy against an undisclosed cardiovascular target Amgen has selected.

Arrowhead will receive a combined $35 million up front plus $21.5 million in an equity investment through Amgen's purchase of 3 million shares at $7.16. Arrowhead is also eligible for $617 million in option exercise fees and milestones, plus low double-digit royalties on sales of ARC-LPA and single-digit royalties for sales on the therapy for the undisclosed target. ...