Arrowhead Nanobiotechnology Subisidaries, Calando and Insert Complete Merger
News Apr 25, 2008
Arrowhead Research Corporation has announced the completion of the merger between Insert Therapeutics, Inc. and Calando Pharmaceuticals, Inc. The merger is part of a streamlining of the two companies in which Arrowhead assumed active management to increase efficiency and focus resources on bringing multiple products to the clinic as rapidly as possible. The merged company will do business under the name "Calando Pharmaceuticals, Inc."
"Both Calando and Insert are on track to maximize value from their core technologies and each has recently announced progress toward additional clinical trials," said Christopher Anzalone, Arrowhead's CEO. "The companies are built around very similar platforms and we saw compelling reasons to merge them into a single, more efficient entity. We believe the result will be a leaner and stronger company going forward with multiple compounds in clinical development."
Calando has an active clinical program that spans small molecule and siRNA therapeutics for the treatment of cancer. Calando's IT-101 compound is moving into phase II clinical trials for the treatment of ovarian cancer. Calando's CALAA-01 has been cleared by the FDA to begin phase I clinical trials and is on track to be the first use of siRNA for the treatment of cancer in humans.