(Reuters) -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.
(Reporting by Christy Santhosh and Padmanabhan Ananthan in Bengaluru; Editing by Krishna Chandra Eluri)
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