PASADENA, Calif.--(BUSINESS WIRE)--Arrowhead Research Corporation (NASDAQ: ARWR) today announced that its portfolio company, Nanotope, Inc., has entered into an agreement with Smith & Nephew, Inc., a member of the Smith & Nephew plc group (LSE: SN; NYSE: SNN) to develop a cartilage regeneration product for human healthcare markets using a subset of its proprietary regenerative medicine technology. Under the agreement, Nanotope and Smith & Nephew will work together to optimize a cartilage regeneration product based on Nanotope’s proprietary platform. Smith & Nephew will conduct and assume costs associated with preclinical tests required to support clinical trials, purchase preclinical material from Nanotope, and assume all clinical trial costs. Nanotope will potentially receive up to $26.55 million in milestone payments plus sales royalties if all milestones are met.
