Arrowhead Pharmaceuticals said on Tuesday it will receive up to $2 billion from Novartis for an exclusive worldwide license to its experimental therapy that targets neuromuscular conditions such as Parkinson’s Disease.
As per the agreement, Arrowhead will receive $200 million upfront when the deal closes and could up to $2 billion in milestone payments and royalties on future sales. Novartis will receive exclusive worldwide rights to the experimental therapy, ARO-SNCA.
The therapy is in preclinical testing and is designed to lower levels of alpha-synuclein, a protein linked to Parkinson’s and related disorders.
The companies said they plan to move the program into human trials as soon as possible.
