Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

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

Animal study shows flexible, dissolvable silicon device promising for brain monitoring: Other applications include post-operative observation for vascular, cardiac, and orthopaedic procedures, finds Penn study May 5th, 2016

Speedy ion conduction in solid electrolytes clears road for advanced energy devices May 5th, 2016

Engineers create a better way to boil water -- with industrial, electronics applications May 5th, 2016

Clues on the path to a new lithium battery technology: Charging produces highly reactive singlet oxygen in lithium air batteries May 5th, 2016

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

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Philadelphia Mathematician Robert Clark Turns to Crowdfunding to Support Nanotechnology Research That Could Lead to ‘Flying’ Cars and Space Elevator April 4th, 2016

Harris & Harris Group Announces Formation of Co-Investment Fund for Accredited Investors March 9th, 2016

Clinatec Announces €30M Fundraising Campaign to Speed Research In Treatment of Neurodegenerative Diseases, Cancer and Motor Disabilities February 24th, 2016

Investments/IPO's/Splits

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Aspen Aerogels to Present at the 28th Annual ROTH Conference March 14th, 2016

Harris & Harris Group Announces Formation of Co-Investment Fund for Accredited Investors March 9th, 2016

Arrowhead to Present at Upcoming March Conferences March 1st, 2016

Nanomedicine

Animal study shows flexible, dissolvable silicon device promising for brain monitoring: Other applications include post-operative observation for vascular, cardiac, and orthopaedic procedures, finds Penn study May 5th, 2016

Unique nano-capsules promise the targeted drug delivery: Russian scientists created unique nano-capsules for the targeted drug delivery May 5th, 2016

The intermediates in a chemical reaction photographed 'red-handed' Researchers at the UPV/EHU-University of the Basque Country have for the first time succeeded in imaging all the steps in a complex organic reaction and have resolved the mechanisms that explain it May 4th, 2016

Nuclear pores captured on film: Using an ultra fast-scanning atomic force microscope, researchers from the University of Basel have filmed 'living' nuclear pore complexes at work for the first time May 3rd, 2016

Announcements

Speedy ion conduction in solid electrolytes clears road for advanced energy devices May 5th, 2016

Engineers create a better way to boil water -- with industrial, electronics applications May 5th, 2016

Clues on the path to a new lithium battery technology: Charging produces highly reactive singlet oxygen in lithium air batteries May 5th, 2016

Unique nano-capsules promise the targeted drug delivery: Russian scientists created unique nano-capsules for the targeted drug delivery May 5th, 2016

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







Car Brands
Buy website traffic