Arrowhead announces asset purchase agreement between Sanofi, Visirna

Arrowhead Pharmaceuticals (ARWR) announced the signing of an asset purchase agreement between Sanofi (SNY) and Visirna Therapeutics, a majority-owned subsidiary of Arrowhead created to develop and commercialize four of Arrowhead’s investigational cardiometabolic candidates in Greater China. Under the terms, Sanofi will acquire rights to develop and commercialize investigational plozasiran, Arrowhead’s first-in-class RNA interference therapeutic candidate designed to reduce production of apolipoprotein C-III as a potential treatment for familial chylomicronemia syndrome and severe hypertriglyceridemia, in Greater China. Upon closing of the Asset Purchase Agreement, Visirna will receive an upfront payment of $130M from Sanofi. In addition, Visirna will be eligible to receive further milestone payments of up to $265M upon approval of plozasiran across various indications in mainland China. Arrowhead is further eligible to receive royalties on net commercial product sales in Greater China as part of the Arrowhead-Visirna license which was assigned in part to Sanofi.