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