When one door closes, another door opens … and it could be even better than the first.
At least, that’s the case for Arrowhead Pharmaceuticals, a Pasadena, California company with most of its employees in Madison.
A year and a half after Arrowhead suffered a devastating blow to its drug development program, the company has received $10 million from Amgen, one of the world’s biggest biotechnology companies, for advancing with one of two drug prospects Amgen has licensed from Arrowhead.
It is Amgen’s first milestone payment from a 2016 agreement that gave Arrowhead $56.5 million upfront and eventually could funnel $600 million more to the company. The payment marks the start of clinical trials on AMG 890, Amgen’s drug — from Arrowhead technology — aimed at lowering levels of a liver protein tied to cardiovascular disease. Read the full story here.