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Arrowhead acquires Novartis' RNAi business

March 6, 2015 2:27 AM UTC

Arrowhead Research Corp. (NASDAQ:ARWR) rose $0.43 to $7.94 on Thursday after it acquired the RNAi business of Novartis AG (NYSE:NVS; SIX:NOVN) for $10 million in cash and $25 million in Arrowhead stock.

The deal includes IP covering RNAi-trigger chemistry and intracellular targeting ligands that enhance activity of RNAi-triggers, a license to IP developed at Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) covering 30 specified gene targets, and three preclinical RNAi candidates. ...