On October 21, 2025, Arrowhead Pharmaceuticals, Inc. announced that it had closed a global licensing and collaboration agreement with Novartis, a transaction that had been first disclosed on September 2, 2025. The closing was subject to the expiration or termination of the Hart‑Scott‑Rodino Antitrust Improvements Act waiting period and other customary conditions.
Under the terms of the agreement, Arrowhead received an upfront cash payment of $200 million from Novartis. In addition, Arrowhead is eligible for development, regulatory, and sales milestone payments totaling up to $2 billion, and will earn tiered royalties on commercial sales of the licensed program. The licensed asset, ARO‑SNCA, is a preclinical‑stage program that uses Arrowhead’s TRiM™ platform to deliver siRNA to the central nervous system for the treatment of Parkinson’s disease and other synucleinopathies.
The deal expands Arrowhead’s commercial footprint into the CNS market, provides a significant cash infusion that strengthens its balance sheet, and creates a new revenue stream through milestone payments and royalties. By partnering with Novartis, Arrowhead gains access to a large, established pharmaceutical partner capable of advancing the program to clinical development and commercialization, thereby accelerating the company’s transition from a platform developer to a commercial‑stage entity.
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