Roche RNA assets acquired by Arrowhead Research
26 October 2011 00:00 in Pharmaceutical Company Restructures
Roche has sold an array of assets and intellectual property relating to RNA therapeutics to Arrowhead Research Corporation.
The transaction includes Roche's state-of-the-art research site in Wisconsin, which will be transferred to the California-based nanomedicine company along with its employees, equipment and related licences.
In return, Roche has obtained a minority stake in the firm and rights to negotiate for milestone payments and future royalties.
Dr Christopher Anzalone, president and chief executive of Arrowhead, described the deal as "transformational for us and important to the broader RNA interference (RNAi) field".
He added: "We believe this transaction positions Arrowhead as the leader in delivery, which remains the limiting factor of therapeutic RNAi."
RNAi refers to the natural process that living cells use to control the activity of specific genes.
Arrowhead has entered into a financing agreement with Lincoln Park Capital to provide up to $15 million (9.3 million pounds) to support its expanded operations.
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