Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Arrowhead Reseach increases ownership in Ablaris to 64%: Ablaris Secures $2.9 Million to Enter Phase I Trial in Second Half 2011

Abstract:
Arrowhead Research Corporation (NASDAQ: ARWR), a nanomedicine company with development programs in oncology, obesity and regenerative medicine, today announced that majority-owned subsidiary Ablaris Therapeutics, Inc. has completed a second closing of its Series A financing round for gross proceeds of $1.2 million, with aggregate gross proceeds of $2.9 million to date. Arrowhead invested $1.3 million in the offering and holds a 64% stake in the obesity company post closing. Use of proceeds includes upfront licensing payments and expenses associated with preparation for a Phase I clinical trial, expected in the second half of 2011.

Arrowhead Reseach increases ownership in Ablaris to 64%: Ablaris Secures $2.9 Million to Enter Phase I Trial in Second Half 2011

Pasadena, CA | Posted on April 6th, 2011

The offering achieved our goal of securing outside capital for Ablaris' license and operations, and provides for incidental costs as we make our way to the clinic," said Arrowhead President and CEO Dr. Chris Anzalone. Direct costs for a Phase 1 clinical trial of Ablaris' first compound are expected to be borne by licensor MD Anderson Cancer Center.

"Preclinical studies of Ablaris' technology have demonstrated considerable promise as a novel way to treat the growing problem of obesity," continued Dr. Anzalone. "While much attention has been given to various anti-obesity therapeutic candidates, the FDA has not approved a new anti-obesity drug in over a decade, leaving a large underserved market in search of a safe and effective treatment. We believe Ablaris' unique technology that directly targets blood vessels feeding white fat tissue presents a significant advantage as we look to enter the clinic with Ablaris' first drug candidate later this year."

Arrowhead launched Ablaris in December 2010 to commercialize the innovative technology platform developed by Drs. Wadih Arap and Renata Pasqualini at MD Anderson Cancer Center for use in weight loss and obesity-related metabolic conditions.

Ablaris' technology is designed to specifically kill blood vessels feeding white fat tissue, and substantial data have been generated in rodents and three different species of non-human primates. This platform is broad and could lead to a large number of potential compounds, hence Ablaris is expected to have great flexibility in follow-on drug candidates. The compounds are administered via simple subcutaneous injection and have led to the destruction and absorption of fat, or adipose tissue, in study animals. Importantly, the primary mode of action is believed to be at the site of the fat tissue rather the central nervous system. Many obesity drug candidates have targeted the brain and, therefore, have had difficult regulatory paths due to the complexity of altering brain chemistry and off target effects. Data using Ablaris's lead candidate have already been reported in well-respected, peer-reviewed scientific journals and further publications are expected throughout 2011. Reports have shown significant and rapid reductions in body weight in the form of reduced body fat. For instance, published data include reports that obese study animals lost nearly one-third of their body weight after one month of treatment. Weight loss was due to a combination of destruction of fat and a decrease in appetite and resulting food intake. It is believed that the latter is caused by natural chemical interactions between the diminishing fat and the central nervous system rather than a direct action of the compound on the brain.

####

About Arrowhead Research Corporation
Arrowhead Research Corporation (NASDAQ: ARWR) is a nanomedicine company developing innovative therapeutic products at the interface of biology and nanoengineering to cure disease and improve human health. Arrowhead addresses its target markets through focused subsidiaries, which include: Calando Pharmaceuticals, a leader in delivering small RNAs for gene silencing; Ablaris Therapeutics, an anti-obesity therapeutics company; and Nanotope, a regenerative medicine company.

About Ablaris Therapeutics, Inc.

Ablaris Therapeutics, Inc. is developing and commercializing a new world-class suite of drug candidates to address obesity, a widespread and growing global epidemic. Using technology developed at the University of Texas MD Anderson Cancer Center, Ablaris' new pharmaceutical approach consists of a series of unique proprietary peptide conjugates that specifically target and kill the blood vessels that feed white fat tissue. Deprived of nutrition, the fat cells die and are broken down by the body. Independent animal studies have shown that the elimination of fat tissue using this method results in a decrease in appetite. Ablaris' first drug candidate is expected to enter the clinic this year. Ablaris is a majority-owned subsidiary of Arrowhead.

Safe Harbor Statement under the Private Securities Litigation Reform Act:
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the future success of our scientific studies, our ability to successfully develop drug candidates, the timing for starting and completing clinical trials, rapid technological change in our markets, and the enforcement of our intellectual property rights. Arrowhead Research Corporation's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q discuss some of the important risk factors that may affect our business, results of operations and financial condition. We assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

For more information, please click here

Contacts:
Investor Relations Contact:
Brandi Floberg
The Piacente Group, Inc.
212-481-2050

Copyright © Arrowhead Research Corporation

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

New method allows for greater variation in band gap tunability: The method can change a material's electronic band gap by up to 200 percent January 31st, 2015

Evidence mounts for quantum criticality theory: Findings bolster theory that quantum fluctuations drive strange electronic phenomena January 30th, 2015

Everything You Need To Know About Nanopesticides January 30th, 2015

DNA nanoswitches reveal how life's molecules connect: An accessible new way to study molecular interactions could lower cost and time associated with discovering new drugs January 30th, 2015

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Ref signals deep impact as EPSRC announces £30 million for impact acceleration accounts (IAA) January 21st, 2015

Blend Therapeutics Secures $21 Million Financing and Unveils Novel Pentarin™ Platform for Cancer Therapeutics: Company’s Technology and Expertise in Cancer R&D Evolve to Create New Class of Miniaturized Biologic Drug Conjugates (mBDCs) Encapsulated in Nanoparticles January 8th, 2015

QD Vision Receives New Funding Round to Meet Growing Demand for Quantum Dot Technology: Industry Veteran Steve Ward Named Executive Chairman January 5th, 2015

Pixelligent Closes $5.5 Million in Funding: Capital Will Be Used to Support Global Customer Growth December 12th, 2014

Investments/IPO's/Splits

Malaysian Nanotechnology Company Nanopac Innovation Ltd. lists on the NSX January 19th, 2015

Aspen Aerogels, Inc. to Present at the Needham Growth Conference January 8th, 2015

Blend Therapeutics Secures $21 Million Financing and Unveils Novel Pentarin™ Platform for Cancer Therapeutics: Company’s Technology and Expertise in Cancer R&D Evolve to Create New Class of Miniaturized Biologic Drug Conjugates (mBDCs) Encapsulated in Nanoparticles January 8th, 2015

Nanometrics to Announce Fourth Quarter and Full Year Financial Results on February 2, 2015 January 7th, 2015

Nanomedicine

DNA nanoswitches reveal how life's molecules connect: An accessible new way to study molecular interactions could lower cost and time associated with discovering new drugs January 30th, 2015

Made-in-Singapore rapid test kit detects dengue antibodies from saliva: IBN's MedTech innovation simplifies diagnosis of infectious diseases January 29th, 2015

Iranian Researchers Planning to Produce Edible Insulin January 28th, 2015

Nanoparticles that deliver oligonucleotide drugs into cells described in Nucleic Acid Therapeutics January 28th, 2015

Announcements

New method allows for greater variation in band gap tunability: The method can change a material's electronic band gap by up to 200 percent January 31st, 2015

Evidence mounts for quantum criticality theory: Findings bolster theory that quantum fluctuations drive strange electronic phenomena January 30th, 2015

Everything You Need To Know About Nanopesticides January 30th, 2015

DNA nanoswitches reveal how life's molecules connect: An accessible new way to study molecular interactions could lower cost and time associated with discovering new drugs January 30th, 2015

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE