Pasadena-Based Arrowhead Pharmaceuticals Earns $10 Million Milestone Payment from Amgen

Arrowhead Pharmaceuticals Inc. today announced that it has earned a $10 million milestone payment from Amgen following the administration of the first dose of AMG 890, formerly referred to as ARO-LPA, in a clinical study. Amgen is evaluating AMG 890 in a Phase 1 clinical study designed to assess its safety in volunteers with elevated levels of lipoprotein (a) (Lp(a)). Emerging research has shown that elevated levels of Lp(a) are strongly associated with cardiovascular disease. AMG 890 is an RNAi therapeutic designed to lower Lp(a) for the treatment of cardiovascular disease.

Chris Anzalone, Ph.D., president and CEO at Arrowhead said, “We are thrilled that Amgen has advanced AMG 890 into a Phase 1 clinical study, resulting in a $10 million milestone payment to Arrowhead. Amgen has extensive expertise in developing and commercializing innovative cardiovascular medicines and we view our collaboration as further validation of the potential for Arrowhead’s proprietary Targeted RNAi Molecule, or TRiM™, technology platform to generate compelling product candidates. Importantly, AMG 890 represents the third drug candidate enabled by TRiM™ to enter clinical development this year, following ARO-AAT and ARO-HBV.”

“Amgen has a long-standing commitment to advancing innovative cardiovascular programs and the AMG 890 program is no exception,” said David M. Reese, M.D., executive vice president of Research and Development at Amgen. “We’re excited to embark on the AMG 890 clinical program in which we hope to translate strong genetic insights and Arrowhead’s exciting new RNAi technology into a treatment for patients with cardiovascular disease and elevated levels of Lp(a).”

Under the terms of the two cardiovascular agreements announced in September 2016, Arrowhead is eligible to receive up to $617 million in option payments, and development, regulatory, and sales milestone payments. Arrowhead is further eligible to receive up to low double-digit royalties for sales of products under the AMG 890 agreement and single-digit royalties for sales of products against an undisclosed target.

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