By Ciara Linnane

Amgen Inc. and Arrowhead Pharmaceuticals Inc. on Thursday said they have agreed to two collaboration agreements to develop and commercialize RNA interference therapies for cardiovascular disease.

Under one agreement, Amgen will receive an exclusive license option to Arrowhead's proprietary subcutaneous RNAi delivery platform. RNAi molecules can be used to target and eliminate specific gene products that contribute to some diseases, the companies said in a statement.

Under a second agreement, Agmen will have an option to a world-wide, exclusive license for a RNAi therapy for an undisclosed genetically validated cardiovascular target.

"In both agreements, Amgen will be wholly responsible for clinical development and commercialization," the statement said.

Arrowhead will receive $56.5 million in upfront payments, an equity investment, royalties and up to $617 million more in potential milestone and equity payments.

Arrowhead shares rose 14.5% to $8.06 in premarket trading, while Amgen was unchanged.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

September 29, 2016 09:36 ET (13:36 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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