Amgen paying Arrowhead for traits to develop cardiovascular drugs
Amgen will license two traits from a Pasadena pharmaceutical company to develop cardiovascular drugs under a partnership announced Sept. 29.
Under the agreement, Thousand Oaks-based Amgen will pay Arrowhead Pharmaceuticals $35 million up front, $21.5 million in the form of an equity investment by Amgen in Arrowhead common stock, and up to $617 million in option, development, regulatory, sales and milestone payments.
Arrowhead may also receive further royalties from Amgen. Under the agreement, Amgen will develop Arrowhead’s RNAi delivery platform. RNAi molecules can be designed to target and shut down specific gene products that contribute to several diseases.
Amgen will be responsible for clinical development and commercialization.
• Contact Philip Joens at pjoens@pacbiztimes.com.
