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Arrowhead raises control in Calando unit.


US nanotechnology company Arrowhead (NASDAQ:ARWR) said on Thursday it had bought additional shares in its majority-owned unit Calando Pharmaceuticals.

The deal allows Arrowhead a better position to negotiate partnerships for Calandoa[euro](tm)s RNAi drug delivery system and its CALAA-01 formulation targeting cancer, currently being tested.

Under the terms of the deal, Arrowhead exchange own warrants for Calando series A preferred stock, which it could convert into 2.7m Calando common shares. For the Calando preferred stock, Arrowhead exchanged a warrant for some 3.9m Arrowhead stock which can be purchased at USD0.50 (EUR0.4) per share between 17 March 2011 and 16 September 2015, the company said.Country: USA, Sector: HealthcareTarget: Type: Corporate acquisitionStatus: Closed

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Publication:M & A Navigator
Date:Sep 23, 2010
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