Arrowhead to provide Calando an additional $10 million for testing of RNAi therapeutics

By Lisa Kerner

Erie, Pa., April 3 - Arrowhead Research Corp. has agreed to contribute up to $10 million in additional capital to its majority-owned subsidiary, Calando Pharmaceuticals, Inc., according to a news release.

The additional capital will allow Calando to accelerate preclinical testing of its RNAi therapeutics and to facilitate additional collaborations with large biotech and pharmaceutical companies, the company said. Calando's proprietary platform for the delivery of siRNA therapeutics is based on linear cyclodextrin polymers.

"In addition to providing financial resources, the partnership with Arrowhead enables us to concentrate our efforts on the development of RNAi therapeutics while not having to be burdened with many day to day administrative issues," Calando chief executive officer John Petrovich said in the release.

"Arrowhead provides complementary management, financial and strategic planning expertise, which will be invaluable to Calando's long-term success."

Arrowhead is a nanotechnology company based in Pasadena, Calif.

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