Arrowhead Launches New Subsidiary

Pasadena-based Arrowhead Research said this morning that it has launched a new subsidiary, Ablaris Therapeutics, focused on commercializing anti-obesity technology developed at the MD Anderson Cancer Center. The firm said the Ablaris has raised $3M in outside capital, including $500,000 which will be invested by Arrowhead itself. Names of those outside investors were not announced. Arrowhead said it will own approximately 55% of Ablaris.