Arrowhead Gets $36M In PIPE

Publicly held biotherapeutics developer Arrowhead Research said this morning that it has raised $36M in a private offering. The Pasadena-based company said the new financing was led by RA Capital, and included new investors Camber Capital, Special Situations Fund, and Aquilo Capital. Existing investors Sabby Capital, Sphera Global Healthcare Fund, and Jim Mellon also participated in the offering. Arrowhead Research has a number of biotherapeutics candidates, aimed at such areas as cancer, obesity, and hepatitis. The firm said the new funding will give it a cash runway into 2015, based on its current burn rate. Arrowhead trades on the NASDAQ as ARWR. More information »