Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Arrowhead Closes Private Offering with Net Proceeds of $60 Million - Financing led by RA Capital Management, LLC with a syndicate of healthcare-focused institutions

Abstract:
Arrowhead Research Corporation (NASDAQ: ARWR), a biopharmaceutical company developing targeted RNAi therapeutics, today announced that on October 11, 2013 it closed a previously announced private offering of common and convertible preferred stock. The financing, which was oversubscribed, had net proceeds of $60 million, after deducting commissions and other offering expenses payable by the company. It was led by RA Capital Management, LLC and included a syndicate of new and existing institutional investors.

Arrowhead Closes Private Offering with Net Proceeds of $60 Million - Financing led by RA Capital Management, LLC with a syndicate of healthcare-focused institutions

Pasadena, CA | Posted on October 14th, 2013

"This capital raise enables us to aggressively build on the success of the ARC-520 Phase 1 study," said Dr. Christopher Anzalone, Arrowhead's President and CEO. "We have the resources to advance ARC-520 through the upcoming Phase 2a study in chronic HBV patients and a multi-national Phase 2b planned for the second half of 2014. The financing also enables us to expand on the DPC delivery platform by funding two new candidates through clinical proof of concept and advancing our pre-clinical pipeline with additional IND-ready candidates. We see the strong demand from high quality institutions as a vote of confidence in our technology, strategic plan, and execution."

3,071,672 shares of common stock were issued at $5.86 per share. 46,000 shares of Series C convertible preferred stock were issued at $1,000 per share. Each share of preferred stock is convertible into 170.6 shares of common stock at a conversion price of $5.86 per share of common stock. The Series C preferred was issued to those investors who desire to not own in excess of 9.99% of Arrowhead's outstanding voting securities following the financing. The Series C Preferred is non-voting above a beneficial ownership cap of 9.99% and carries no dividend or liquidation preference.

Jefferies LLC and Piper Jaffray & Co. acted as joint placement agents for the offering and Trout Capital acted as a financial advisor to the company.

About ARC-520

Approximately 350 million people worldwide are chronically infected with the hepatitis B virus. Chronic HBV infection can lead to cirrhosis of the liver and is responsible for 80% of primary liver cancers globally. Arrowhead's RNAi-based candidate ARC-520 is designed to treat chronic HBV infection by reducing the expression and release of new viral particles and key viral proteins. The goal is to achieve a functional cure, which is an immune clearant state characterized by hepatitis B s-antigen negative serum with or without sero-conversion. The siRNAs in ARC-520 intervene at the mRNA level, upstream of where nucleotide and nucleoside analogues act. In transient and transgenic mouse models of HBV infection, a single co-injection of Arrowhead's DPC delivery vehicle with cholesterol-conjugated siRNA targeting HBV sequences resulted in multi-log knockdown of HBV RNA, proteins and viral DNA with long duration of effect. In a chimpanzee chronically infected with HBV and high viremia and antigenemia, ARC-520 induced rapid reductions of 90-95% in HBV DNA, e-antigen, and s-antigen. Arrowhead has completed enrollment in a phase 1 single ascending dose study in normal volunteers, which the company expects to follow with a phase 2a study in chronic HBV patients.

####

About Arrowhead Research Corporation
Arrowhead Research Corporation is a biopharmaceutical company developing targeted RNAi therapeutics. The company is leveraging its proprietary drug delivery technologies to develop targeted drugs based on the RNA interference mechanism that efficiently silence disease-causing genes. Arrowhead technologies also enable partners to create peptide-drug conjugates that specifically home to cell types of interest while sparing off-target tissues. Arrowhead's pipeline includes clinical programs in chronic hepatitis B virus and obesity and partner-based programs in oncology.

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 Corporation
Vince Anzalone, CFA
626-304-3400

The Trout Group
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

Nanoparticles Increase Durability of Concrete Decorations in Cold Areas January 26th, 2015

Iranian Researchers Boost Solar Cells Efficiency Using Anti-Aggregates January 26th, 2015

Detection of Heavy Metals in Samples with Naked Eye January 26th, 2015

Engineering self-assembling amyloid fibers January 26th, 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

Engineering self-assembling amyloid fibers January 26th, 2015

Promising use of nanodiamonds in delivering cancer drug to kill cancer stem cells: NUS study shows that delivery of Epirubicin by nanodiamonds resulted in a normally lethal dosage of Epirubicin becoming a safe and effective dosage for treatment of liver cancer January 26th, 2015

Teijin to Participate in Nano Tech 2015 January 22nd, 2015

2nd International Conference on Infectious Diseases & Nanomedicine (December 15-18, 2015, Kathmandu, NEPAL) January 22nd, 2015

Announcements

Nanoparticles Increase Durability of Concrete Decorations in Cold Areas January 26th, 2015

Iranian Researchers Boost Solar Cells Efficiency Using Anti-Aggregates January 26th, 2015

Detection of Heavy Metals in Samples with Naked Eye January 26th, 2015

Engineering self-assembling amyloid fibers January 26th, 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