Arrowhead Research (ARWR) Acquuires RNA Assets from Roche (RHHBY)
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Arrowhead Research Corporation (Nasdaq: ARWR), today announced that it has acquired RNA therapeutics assets from Roche (OTCBB: RHHBY) including the state-of-the-art research site in Madison, WI.
The Roche assets and IP acquired by Arrowhead include:
Arrowhead also closed on $4 million of new funding in addition to the $6 million financing that was recently announced, providing approximately $10 million of capital. In addition, the Company entered into an agreement with Lincoln Park Capital (LPC) to provide up to $15 million to support the new operations. Under the LPC agreement, Arrowhead may, subject to customary conditions, draw all or part of the $15 million commitment at its sole discretion over a three-year period.
The Roche assets and IP acquired by Arrowhead include:
- Roche Madison Inc. (formerly Mirus Bio Corporation,), providing an advanced proprietary RNAi delivery platform known as Dynamic PolyCunjugates™ (DPCs);
- License from Tekmira Pharmaceuticals Corp. for proprietary SNALP RNAi delivery;
- Proprietary Liposomal Nanoparticle (LNP) RNAi delivery system developed by Roche;
License from Alnylam providing access to Alnylam’s RNAi IP and Canonical siRNA structures;
- License from City of Hope providing access to Dicer substrate siRNA structures;
- License from MDRNA (now Marina Biotech) providing access to Meroduplex siRNA structures; and
- A team of over 40 leading scientists in the RNAi field and state-of-the-art facilities and infrastructure in Madison, WI.
Arrowhead also closed on $4 million of new funding in addition to the $6 million financing that was recently announced, providing approximately $10 million of capital. In addition, the Company entered into an agreement with Lincoln Park Capital (LPC) to provide up to $15 million to support the new operations. Under the LPC agreement, Arrowhead may, subject to customary conditions, draw all or part of the $15 million commitment at its sole discretion over a three-year period.
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