Arrowhead Research said this week that it has expanded its portfolio of drug-delivery technologies through the acquisition of privately held Alvos Therapeutics for roughly $2.1 million in stock.
According to Arrowhead, Alvos has rights to a platform of proprietary human-derived homing peptides developed by the MD Anderson Cancer Center. These targeting agents can be linked to siRNAs and small molecules to carry drugs to target cells.
Arrowhead said it plans to use the peptide technology to enhance its Rondel and dynamic polyconjugate siRNA delivery approaches.
Under the terms of the acquisition, Arrowhead bought all outstanding shares of Alvos in exchange for 315,467 shares of restricted common stock. Arrowhead's shares were trading around $6.68 midweek.
In addition, Alvos stockholders are eligible to receive additional Arrowhead stock valued at up to $23.5 million based on the achievement of clinical and regulatory milestones, including the demonstration of statistically significant efficacy in clinical trials, Arrowhead said.