Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Arrowhead Closes $36 Million Private Offering-Financing led by RA Capital with a syndicate of healthcare specialist investors

Abstract:
Arrowhead Research Corporation (NASDAQ: ARWR), a targeted therapeutics company, today announced that on May 3, 2013 it closed a previously announced private offering of common and convertible preferred stock with gross proceeds of $36 million. The financing was led by RA Capital and included new investors Camber Capital, Special Situations Fund, and Aquilo Capital, as well as existing investors Sabby Capital, Sphera Global Healthcare Fund, and Jim Mellon.

Arrowhead Closes $36 Million Private Offering-Financing led by RA Capital with a syndicate of healthcare specialist investors

Pasadena, CA | Posted on May 6th, 2013

"Our strengthened balance sheet allows us to accelerate our pipeline, which includes taking our chronic hepatitis B candidate, ARC-520, into a phase 1 study in healthy volunteers planned for this summer, a phase 2a study in chronic HBV patients with a planned regulatory filing later this year, and a phase 2b multi-dose study in the second half of 2014," said Dr. Chris Anzalone, President and CEO of Arrowhead. "With our current burn rate we expect this financing to give us a cash runway into 2015."

Approximately 14.3 million shares of common stock were issued at $1.83 per share. 9,900 shares of Series B convertible preferred stock were issued at $1,000 per share, and each are convertible into 546 shares of common stock which is a conversion price of $1.83 per share of common stock. The Series B preferred was used in the financing as an accommodation to those investors who desire to not own in excess of 9.99% of Arrowhead's outstanding voting securities following the financing. The Series B Preferred is non-voting above a beneficial ownership cap of 9.99%, pays no dividend, and carries no liquidation preference.

Trout Capital acted as a financial advisor in the transaction. The company did not engage an investment banker or placement agent.

####

About Arrowhead Research Corporation
Arrowhead Research Corporation is a clinical stage targeted therapeutics company with development programs in oncology, obesity, and chronic hepatitis B virus infection. The company is leveraging its platform technologies to design and develop peptide-drug conjugates (PDCs) that specifically home to cell types of interest while sparing off-target tissues, create targeted drugs based on the gene silencing RNA interference (RNAi) mechanism, and work with partners to create improved versions of traditional small molecule drugs.

For more information please visit www.arrowheadresearch.com, or follow us on Twitter @ArrowRes. To be added to the Company's email list to receive news directly, please send an email to

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 our ability to finance our operations, 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:
Arrowhead Research
Vince Anzalone
CFA
626-304-3400

The Trout Group, LLC
Lauren Glaser
646-378-2972

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

Supersonic waves may help electronics beat the heat May 18th, 2018

New blood test rapidly detects signs of pancreatic cancer May 17th, 2018

Disability Can Be a Superpower in Space Disabled astronauts offer unique solutions to emergencies in space May 17th, 2018

Deeper understanding of quantum chaos may be the key to quantum computers May 16th, 2018

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

180 Degree Capital Corp. Reports Net Asset Value per Share of $2.60 as of December 31, 2017; A Decrease of 3.0% From Prior Quarter and an Increase of 11.1% From December 31, 2016 February 27th, 2018

Nanowire LED Innovator Aledia Announces 30 ($36M) Million Series-C Financing: Intel Capital Joins Existing Investors to Commercialize Certain Nanowire-LED Technologies for Mobile Displays January 29th, 2018

180 Degree Capital Corp. Leads Investment in TheStreet, Inc.; Investment Enables Removal of Capital Structure Overhang November 14th, 2017

180 Degree Capital Corp. Appoints Investment Banking Veteran Parker Weil to Its Board of Directors August 2nd, 2017

Investments/IPO's/Splits

Arrowhead Pharmaceuticals Reports Inducement Grants under NASDAQ Marketplace Rule 5635(c)(4) March 20th, 2018

Nanometrics to Present at the 30th Annual ROTH Conference February 27th, 2018

180 Degree Capital Corp. Reports Net Asset Value per Share of $2.60 as of December 31, 2017; A Decrease of 3.0% From Prior Quarter and an Increase of 11.1% From December 31, 2016 February 27th, 2018

Nanowire LED Innovator Aledia Announces 30 ($36M) Million Series-C Financing: Intel Capital Joins Existing Investors to Commercialize Certain Nanowire-LED Technologies for Mobile Displays January 29th, 2018

Nanomedicine

New blood test rapidly detects signs of pancreatic cancer May 17th, 2018

Elastic microspheres expand understanding of embryonic development and cancer cells May 15th, 2018

Nanomedicine -- Targeting cancer cells with sugars May 14th, 2018

NanoBio Announces Corporate Name Change to BlueWillow Biologics and Closes $10M Series A Financing: Move Reflects Focus on Advancing Several Intranasal Vaccines to Human Studies May 9th, 2018

Announcements

Supersonic waves may help electronics beat the heat May 18th, 2018

New blood test rapidly detects signs of pancreatic cancer May 17th, 2018

Disability Can Be a Superpower in Space Disabled astronauts offer unique solutions to emergencies in space May 17th, 2018

Deeper understanding of quantum chaos may be the key to quantum computers May 16th, 2018

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



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project