Business Briefs

A roundup of the latest news and updates from businesses in Pasadena, from small startups to well-established global enterprises, making an impact in the local economy. If your company would like to be highlighted, please contact us at editor@pasadenanow.com.

Arrowhead Pharmaceuticals Acquires Rights to Promising Drug that Could Treat Liver Inflammation 

Pasadena-based pharmaceutical company, Arrowhead Pharmaceuticals Inc. announced that it has acquired the rights to a potential drug that could treat liver inflammation and damage caused by a build-up of fat in the liver, also known as nonalcoholic steatohepatitis (NASH). 

NASH is a condition that is part of a group of illnesses called nonalcoholic fatty liver disease. The drug, ARO-PNPLA3, is currently in its Phase 1 clinical study.

There are currently no drugs approved for the treatment of NASH, making it an area of significant unmet medical need. ARO-PNPLA3 is a unique NASH drug target, according to Rohit Loomba, a Professor of Medicine and Director of the NAFLD Research Center at the University of California, San Diego.

According to Arrowhead, after a single dose in a Phase 1 clinical study, ARO-PNPLA3 achieved encouraging results, including a dose-dependent mean reduction in liver fat of up to 40% in patients homozygous for the I148M mutation, no apparent treatment emergent increases in triglycerides or LDL-cholesterol, no serious or severe adverse events (AEs), and mostly mild adverse events reported. 

The drug was found to be safe and well-tolerated with no clinically meaningful changes or trends in any safety parameters. 

The experimental drug was initially part of a 2018 research collaboration and option agreement between Arrowhead and Janssen Pharmaceuticals, Inc., a subsidiary of Johnson & Johnson. 

“We understand that Janssen is undergoing a strategic R&D portfolio review and subsequently advised us of their decision to return full rights to this promising NASH candidate back to Arrowhead,” said Christopher Anzalone, Ph.D., Arrowhead’s president and CEO.

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Tetra Tech to Provide Engineering Solutions On Korean Peninsula with $200 Million U.S. Army Corps of Engineers Contract

Pasadena-based Engineering services company Tetra Tech, Inc. has been awarded a five-year, multiple-award contract valued at $200 million by the U.S. Army Corps of Engineers, Far East District, the company announced.

Under the contract, Tetra Tech will provide architect-engineer (A-E) technical services to support the U.S. Army, Air Force, and other federal agencies operating in the Republic of Korea. 

The services will include conducting site investigations, preparing engineering design documents, and program management services to support the U.S. government’s mission in the Pacific region.

“The U.S. Army Corps of Engineers has been a valued client for almost 50 years,” said Dan Batrack, Tetra Tech Chairman and CEO. “We look forward to using our Leading with Science® approach to support the Far East District in its mission to deliver state-of-the-art engineering solutions on the Korean peninsula.”

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Pasadena-based Alexandria Venture Investments Named Top Agrifoodtech Investor For Third Year In a Row

Pasadena-based Alexandria Venture Investments, the strategic venture capital platform of Alexandria Real Estate Equities, Inc. (NYSE: ARE), has been ranked by AgFunder as one of the top five most active U.S.-based investors in agrifoodtech for the third year in a row. 

This recognition is based on the number of companies in which Alexandria invested in 2022.

For more than two decades, Alexandria has developed and operated state-of-the-art R&D and greenhouse infrastructure. It has actively invested in agrifoodtech companies that are advancing novel approaches that have immense potential to address pressing societal issues around sustainability, agriculture, food and nutrition, the company said in a recent release. 

“Like never before, consumers are demanding transparency and action to combat these global concerns. Alexandria is proud to lead the way in identifying and supporting new technologies, especially those at the intersection of climate, agriculture and food, that will vastly improve the way we live, what we eat and how we work and, in turn, help fulfill our overall mission to advance human health,” said Blake Stevens, PhD, vice president of science and technology at Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments.