04 May Wisconsin State Journal: Arrowhead Pharmaceuticals notches $25 million milestone payment
Arrowhead Pharmaceuticals is getting a $25 million milestone payment from Janssen Pharmaceuticals, and the payment is coming sooner than expected.
Arrowhead is headquartered in Pasadena, California, but its main employment base is in Madison, at 502 S. Rosa Road. The firm has begun administering doses of its chronic hepatitis B drug to patients in a trial that’s been tweaked.
The new study looks at how Arrowhead’s JNJ-3989 — formerly known as ARO-HBV — works in combination with two other drugs chosen by Janssen but not publicly identified.
Janssen bought the rights to the hepatitis B drug last October in a deal that gave Arrowhead $250 million at the outset — $175 million from Janssen and a $75 million investment from Johnson & Johnson Innovation. The next milestone payment was supposed to amount to $50 million when the second phase of clinical trials began. Instead, Arrowhead is getting half of that, or $25 million, with the addition of this mid-stage trial and will receive the rest at a later point.
Read the full Wisconsin State Journal article here.