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Tuesday, Feb 7, 2023

Arrowhead Receives $25M Milestone Payment from Amgen

Publicly traded biopharmaceutical company Arrowhead Pharmaceuticals announced yesterday a $25 million milestone payment triggered by the first subject enrolled in Amgen’s Phase 3 trial of olpasiran, a treatment designed to lower the risk of heart attack and stroke.

Arrowhead, based in Pasadena, is further eligible to receive up to an additional $535 million in aggregate development, regulatory and sales milestone payments from Thousand Oaks-based Amgen and Royalty Pharma, the latter of which is a biopharmaceutical fundraising and royalties company.

“We are pleased with the great progress on the clinical development of olpasiran, which was developed using Arrowhead’s proprietary TRiMTM technology,” Dr. Christopher Anzalone, Arrowhead’s president and chief executive, said in a statement. “This is an important milestone for the program and for Arrowhead, as this is the second TRiMTM-enabled candidate to enter Phase 3 studies. Importantly, as our pipeline continues to advance expeditiously, we anticipate multiple Arrowhead therapies will also reach Phase 3 trials over the coming year.”

Olpasiran was originally developed by Arrowhead using a proprietary targeted molecule platform and licensed to Amgen in 2016.

James Brock
James Brock
James Brock has worked in newsrooms around the world, including in New York, Paris, Abu Dhabi, Dubai, Houston, and Los Angeles. He began his career with a Newhouse News daily, where he served on the news desk and the editorial page. He was the copy chief for The New York Sun, founded and edited the personal finance section for Abu Dhabi-based The National, among other positions. He has interviewed Anthony Bourdain, Tom Ford, Mark Cuban, and many other individual, and has written and edited thousands of stories and articles.

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