Arrowhead gains Takeda firepower as it seeks edge over Dicerna in AAT-associated liver disease

Arrowhead has found a partner in Takeda that could help it compete with Dicerna as the two biotechs advance their RNAi therapies to treat alpha-1 antitrypsin (AAT)-associated liver disease.

The deal with Takeda Pharmaceutical Co. Ltd. (Tokyo:4502; NYSE:TAK) on the ARO-AAT program gives  Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) $300 million up front, the second-highest upfront payment for a Phase II asset in 2020, behind the $375 million ($175 million in cash and $200 million in equity) that Gilead Sciences Inc. (NASDAQ:GILD) spent on a cancer immunotherapy partnership with Arcus Biosciences Inc. (NYSE:RCUS). ...