Tuesday, January 18, 2011

Arrowhead Sells Unidym To Korean Firm

Pasadena-based Arrowhead Research said today that its Unidym subsidiary has been acquired by Korean electronics firm Wisepower Co., Ltd. Arrowhead said the deal was worth stock and convertible bonds worth $5M, plus up to $140M in earn-out. Arrowhead said the move will "substantially decrease" its burn rate, allowing it to focus on the nanomedicine area. Unidym was focused on carbon nanotube technology. Arrowhead is the owner of Calando, which focuses on RNAi delivery technology, and Ablaris, which is focused on anti-obesity technology.