Arrowhead Research and Shire this week announced that they have struck an alliance to develop and commercialize drugs combining Arrowhead's targeted delivery peptides and Shire's therapeutic payloads.
Arrowhead acquired the peptide technology in April through its $2.1 million all-stock acquisition of Alvos Therapeutics (GSN 4/12/2012).
Under the deal, Arrowhead will identify peptides that selectively bind and internalize in an undisclosed tissue type, permitting drug delivery.
Arrowhead stands to receive research funding, as well as development, regulatory, and commercialization milestones of up to $32.8 million for each drug candidate, plus royalties. Shire will have the option to exclusively license the candidates and would assume full responsibility for their development and marketing.
Additional terms were not disclosed.