Arrowhead Research Corp. (ARWR) Subsidiary Ablaris Raises $2.9M for Phase I Clinical Trial
Arrowhead Research Corp., a nanomedicine company focused on development programs in oncology, obesity and regenerative medicine, yesterday announced that majority-owned subsidiary Ablaris Therapeutics Inc. has completed a second closing of its Series A financing round to raise gross proceeds of $1.2 million; to-date the company has achieved total gross proceeds of $2.9 million. Arrowhead launched Ablaris in December 2010 to commercialize the innovative weight loss technology platform developed by Drs. Wadih Arap and Renata Pasqualini at MD Anderson Cancer Center. Arrowhead holds a 64 percent ownership in Ablaris, which is developing and commercializing a suite of drug candidates to address…