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Arrowhead Official Reaffirms 2010 Calando Partnership Goal

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Arrowhead Research's top executive this week reaffirmed that the firm's subsidiary Calando Pharmaceuticals is poised to complete enrollment in a phase I trial of its siRNA-based cancer drug CALAA-01 shortly and to strike its first industry partnership before the end of 2010.

"If data from the [ongoing] clinical trial continue to be positive, the value of such a deal could increase as the trial progresses," Arrowhead President and CEO Christopher Anzalone said in a letter to company shareholders.

A recent $8.65 million financing "gave us better flexibility to evaluate the right set of partnerships rather than having to do a deal immediately, and as we speak with potential partners, we are weighing timing and structure variables," he added.

Still, he said that Calando's first partnership — a longtime goal — is expected to be formed before the end of the year as the company wraps up patient enrollment in the CALAA-01 study, although he cautioned that it is possible that these milestones may not happen on schedule.

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