Arrowhead Pharma earns $10M

Pasadena, California-based Arrowhead Pharmaceuticals, which has most of its employees in Madison, earned a $10 million payment from Amgen, a worldwide biotechnology company to advance a drug, AMG 890, to Phase I clinical trials.

According to a release, the trials will assess the drug’s safety in volunteers with elevated levels of lipoprotein (a), which has been shown to be strongly associated with cardiovascular disease. AMG 890 is designed to lower Lp(1) for the treatment of cardiovascular disease.