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January 19th, 2008

Arrowhead Research Units to Combine

Abstract:
Nanotechnology developer Arrowhead Research Corp. said Friday its subsidiary Calando Pharmaceuticals Inc. will become part of another of its subsidiaries, Insert Therapeutics Inc.

Arrowhead said as part of the deal, the subsidiaries will be recapitalized to eliminate their preferred stock.

At Insert, each preferred share will be converted into one common share, the company said. At Calando, each preferred share will be converted into one Calando common share.

The company said shareholders of Calando stock will receive Insert shares at an exchange ratio of about 5.97 shares of Insert stock for each Calando share. Outstanding options to buy Calando stock will be converted into an option to buy about 5.97 shares of Insert stock.

Source:
money.cnn.com

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