Pasadena Pharmaceuticals Company Inks $673 Million Deal

first_img First Heatwave Expected Next Week Community News A pharmaceuticals company based in Pasadena inked a massive deal Thursday worth up to $673 million with one of the world’s leading biotechnology companies to combat cardiovascular disease.Arrowhead Pharmaceuticals is partnering with Amgen to treat cardiovascular disease by developing RNA interface therapies, according to a statement released to the media.Under the terms of the agreement, Arrowhead will get $51.5 million from Amgen — $35 million upfront and $21.5 million in the form of an equity investment — to start with and a possible $617 million in further milestone and equity payments, according to Reuters.The agreement also would give Amgen the worldwide exclusive license to Arrowhead’s proprietary subcutaneous RNAi delivery platform, which may be able to design RNAi molecules that target and shut down specific genes that contribute to disease, according to the press release.The RNAi molecules may also be designed to reduce elevated lipoprotein(a), which is known as a risk factor for atherosclerotic cardiovascular disease, which according to Reuters currently has no treatment options.“Arrowhead’s expertise in RNAi makes them a valuable partner as we translate genetic discoveries into potential therapies that can improve health outcomes for patients,” said Sean E. Harper, Executive Vice President of Research and Development at Amgen in the statement. “This collaboration builds upon our commitment to cardiovascular disease with targets that we believe are uniquely suited for RNAi-based therapy.”According to Reuters, RNAi has long interested drug developers, but has frequently failed during clinical trials.The agreement also stipulates that Amgen will be wholly responsible for clinical development and commercialization, and also another RNAi therapy for an undisclosed gene that may be linked with cardiovascular disease.“We are thrilled to be working with Amgen, one of the world’s leading biotechnology companies, on this collaboration. Amgen’s extensive development, regulatory, and commercial expertise makes them an ideal partner, and we look forward to a long and productive relationship,” said Christopher Anzalone, President and CEO of Arrowhead in the statement.The closing of this deal is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, according to the press statement. Subscribe EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Business News Pasadena Pharmaceuticals Company Inks $673 Million Deal From STAFF REPORTS Published on Thursday, September 29, 2016 | 6:40 pm Business News Your email address will not be published. Required fields are marked * Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy More Cool Stuffcenter_img 2 recommended0 commentsShareShareTweetSharePin it Top of the News Name (required)  Mail (required) (not be published)  Website  HerbeautyKeep Your Skin Flawless With These Indian Beauty RemediesHerbeautyHerbeautyHerbeauty10 Easy Tips To Help You Reset Your Sleep ScheduleHerbeautyHerbeautyHerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeautyYou Can’t Go Past Our Healthy Quick RecipesHerbeautyHerbeautyHerbeautyThe Most Heartwarming Moments Between Father And DaughterHerbeautyHerbeautyHerbeauty10 Of The Most Notorious Female Spies In HistoryHerbeautyHerbeauty Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Darrel Done BusinessVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Community News Make a comment Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img

Leave a Reply

Your email address will not be published. Required fields are marked *