Benzinga | Jun 21, 2021 11:36AM EDT

Horizon Acquires Rights to Arrowhead's RNAi-Based Gout Treatment Candidate

* Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) and Horizon Therapeutics plc (NASDAQ:HZNP) have entered into a global collaboration and license agreement for ARO-XDH for uncontrolled gout.

* Horizon will pay $40 million upfront for global rights to Arrowhead Pharmaceuticals' ARO-XDH, an investigational RNAi therapy.

* The deal includes $660 million in downstream milestones and potential royalties in the low- to mid-teens.

* Horizon will handle clinical development and worldwide commercialization, with Arrowhead responsible for preclinical development.

* Price Action: ARWR shares are up 4.13% at $89.18, and HZNP stock is up 0.17% at $94.77 during the market trading session on the last check Monday.