Horizon Therapeutics has entered into a $700 million development and licensing deal with Arrowhead Pharmaceuticals for Arrowhead’s investigational RNA interference (RNAi) treatment for gout.

The global collaboration and license agreement is for ARO-XDH, a drug that works by interfering with messenger-RNA to turn off the production of specific genes.

Under the agreement, Horizon will have a worldwide exclusive license to the therapeutic and will be wholly responsible for clinical development and commercialization, while Arrowhead will receive $40 million as an upfront payment and up to $660 million in milestone payments along with royalties on sales.