Arrowhead Earns $10 Million Phase 1 Milestone Payment

Rhea-AI Summary

Arrowhead Pharmaceuticals (NASDAQ: ARWR) announced a milestone payment of $10 million from Janssen Pharmaceuticals after the fifth patient was dosed in the Phase 1 study of ARO-JNJ1, an investigational RNAi therapeutic. The partnership, which began in October 2018, allows Arrowhead to receive further milestone payments and royalties from commercial sales of ARO-JNJ1. The company focuses on developing RNAi-based therapies targeting intractable diseases through gene silencing.

Positive

• Received a $10 million milestone payment from Janssen Pharmaceuticals.
• Progress in Phase 1 clinical study of ARO-JNJ1 with the dosing of the fifth patient.
• Eligible for additional future milestone payments and royalties from ARO-JNJ1 sales.

Negative

• None.

PASADENA, Calif.--(BUSINESS WIRE)-- Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) today announced that it earned a $10 million milestone payment from Janssen Pharmaceuticals, Inc., (Janssen) part of the Janssen Pharmaceutical Companies of Johnson & Johnson. The milestone payment was earned after Janssen dosed the fifth patient in a Phase 1 clinical study of ARO-JNJ1, an investigational RNAi therapeutic candidate which utilizes Arrowhead’s proprietary Targeted RNAi Molecule (TRiM™) platform.

Arrowhead entered into a license and collaboration agreement, and into a research collaboration and option agreement, with Janssen in October 2018. Arrowhead is eligible for additional payments when future milestones are met and is also eligible for royalties on commercial sales of ARO-JNJ1.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals develops medicines that treat intractable diseases by silencing the genes that cause them. Using a broad portfolio of RNA chemistries and efficient modes of delivery, Arrowhead therapies trigger the RNA interference mechanism to induce rapid, deep, and durable knockdown of target genes. RNA interference, or RNAi, is a mechanism present in living cells that inhibits the expression of a specific gene, thereby affecting the production of a specific protein. Arrowhead’s RNAi-based therapeutics leverage this natural pathway of gene silencing.

For more information, please visit www.arrowheadpharma.com, or follow us on Twitter @ArrowheadPharma. To be added to the Company's email list and receive news directly, please visit http://ir.arrowheadpharma.com/email-alerts.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this release except for historical information may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “plan,” “project,” “could,” “estimate,” or “continue” are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial performance, trends in our businesses, or other characterizations of future events or circumstances are forward-looking statements. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of numerous factors and uncertainties, including the continuing impact of the COVID-19 pandemic, the safety and efficacy of our product candidates, the duration and impact of regulatory delays in our clinical programs, our ability to finance our operations, the likelihood and timing of the receipt of future milestone and licensing fees, the future success of our scientific studies, our ability to successfully develop and commercialize drug candidates, the timing for starting and completing clinical trials, rapid technological change in our markets, the enforcement of our intellectual property rights, and the other risks and uncertainties described in our most recent Annual Report on Form 10-K,subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission from time to time. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

Source: Arrowhead Pharmaceuticals, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005113/en/

Arrowhead Pharmaceuticals, Inc.

Vince Anzalone, CFA

626-304-3400

ir@arrowheadpharma.com

Investors:

LifeSci Advisors, LLC

Brian Ritchie

212-915-2578

britchie@lifesciadvisors.com

www.lifesciadvisors.com

Media:

LifeSci Communications, LLC

Josephine Belluardo, Ph.D.

646-751-4361

jo@lifescicomms.com

www.lifescicommunications.com

Source: Arrowhead Pharmaceuticals Inc.

FAQ

What is the significance of the <money>$10 million</money> milestone payment for Arrowhead Pharmaceuticals?

The $10 million milestone payment indicates progress in the collaboration with Janssen and the advancement of the ARO-JNJ1 clinical study, potentially leading to further financial benefits.

What is ARO-JNJ1 and its clinical status?

ARO-JNJ1 is an investigational RNAi therapeutic candidate currently in Phase 1 clinical study, aimed at treating intractable diseases.

When did the collaboration between Arrowhead and Janssen begin?

The collaboration between Arrowhead and Janssen began in October 2018.

What are the next steps for Arrowhead Pharmaceuticals after this milestone?

Arrowhead Pharmaceuticals is eligible for additional milestone payments and royalties, depending on the future progress of ARO-JNJ1 and other developments in their pipeline.

How does the RNAi mechanism work in Arrowhead's therapies?

Arrowhead's RNAi therapies utilize a natural mechanism to silence specific genes, thereby affecting the production of proteins associated with intractable diseases.