Nov. 22 Quick Takes: GSK, Arrowhead in deal for NASH candidate

Days after presenting pharmacodynamic and safety data from a Phase I/II study of RNAi therapeutic ARO-HSD at a key liver disease meeting, Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) has granted GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) global, ex-Greater China rights to the therapy. Arrowhead will receive $120 million up front in the deal, which includes $130 million in two clinical milestones, $190 million for first commercial sale, and $590 million in further sales milestones, plus royalties. Arrowhead is developing the HSD17B13-targeting treatment for alcoholic and non-alcoholic liver diseases including non-alcoholic steatohepatitis; the biotech presented at the annual Liver Meeting of the American Association for the Study of Liver Disease (AASLD).

Zenas BioPharma LLC is set to develop bifunctional antibody obexelimab following its acquisition of exclusive worldwide rights from Xencor Inc. (NASDAQ:XNCR). The mAb targeting CD19 and FCGR2B is being studied as a treatment for autoimmune diseases. Xencor, which already owns a stake in Zenas, will receive a warrant for additional equity up to a 15% holding and is eligible for $480 million in milestones, plus royalties. Co-founded by Lonnie Moulder, Zenas launched in March to develop immune-based therapies. It is the sixth portfolio company of Moulder’s Tellus BioVentures LLC...