Wednesday, December 3, 2008
Arrowhead Research Raises $5.4M
Pasadena-based Arrowhead Research, a publicly held firm commercialization technology in the life sciences, electronics, and energy markets, said today that it has raised $5.4M for a number of the firm's subsidiaries. According to Arrowhead, it raised $2.7M for investment in its subsidiary, Unidym, from strategic investor Tokyo Electron Ventures. The firm also said it has gained $2.7M which was invested in its majority-owned subsidiary, Calando Pharmaceuticals, and redirected $1.7M from its subsidiary Tego Biosciences, back into the firm. The firm said the funding activity helps the firm to conserve capital and maintain commercialization progress at its subsidiaries. The shift of funds from Tego Biosciences to Arrowhead was a result of Tego deciding to focus on licensing, rather than internally developing, its technology.