Arrowhead Buys RNAi Research and Development Assets From Novartis

Pasadena-based Arrowhead Research said this morning that it has acquired the entire RNAI research and development portfolio and associated assets of Novartis. According to Arrowhead, the deal was worth $35M, made up of a $7M cash payment, $3M in cash later, and $25M in Arrowhead common stock, to be paid within 30 days. Arrowhead said the deal also includes milestones and royalties on sales of future products. Arrowhead will also gain a number of patents and patent applications related to the RNAi technology.