Ropes & Gray advised Madrigal Pharmaceuticals in an exclusive global license agreement with Arrowhead Pharmaceuticals for up to $1 billion for a clinical stage small-interfering RNA candidate, ARO-PNPLA3. The therapeutic targets a certain genetic mutation associated with a form of fatty liver disease called metabolic dysfunction-associated steatohepatitis (MASH). The transaction was announced on May 5.
Under the agreement, Madrigal will pay Arrowhead $25 million upfront. Arrowhead is eligible to receive up to $975 million in development, regulatory, and sales milestone payments, plus tiered royalties on commercial sales. Madrigal will receive rights to develop, manufacture and commercialize ARO-PNPLA3 worldwide.
The Ropes & Gray team was led by life sciences licensing partner Hannah England and life sciences licensing associates Ryan Kramer and James Gould.
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