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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 Lacoste Polo Shirts Uk
PASADENA, Calif. (BUSINESS WIRE) (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.
Safe Harbor Statement under the Private Securities Litigation Reform Act:
Arrowhead Closes Private Offering with Net Proceeds of $60 Million
"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."
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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. To be added to the Company's email list to receive news directly, please send an email to
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.
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.
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 Polo Shirts In Karachi 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.
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.
(ARWR) Begins Phase 1 Trial of RNAi Therapeutic ARC 520 for Treatment of Chronic Hepatitis B Infection Ladies Sports Polo Shirts Uk
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. 's most Lacoste Polo Shirt Uk Sale
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