Retreating Arrowhead axes CSO in RNAi rout; Impel raises $36M for platform tech
Now that Arrowhead $ARWR has decided to chop out everything it has in the clinic, along with about a third of its staff, the biotech is giving its CSO the boot as well. In an 8-K filed with the SEC, Arrowhead said it had notified David Lewis that his job terminates on December 13. The retreat at Arrowhead has helped cast a pall over the RNAi field. A few weeks ago the biotech was forced to put its lead program on hold, and then followed up this week with the news that it is abandoning three clinical-stage programs. The news triggered a meltdown in its share price.
Seattle-based Impel NeuroPharma has raised $36 million in a Series C round designed to advance its platform technology on nasal drug/device products. The company is working on programs for migraine, Alzheimer’s and Parkinson’s disease. VenBIO, 5AM Ventures and Vivo Capital made the investment, which will arrive in two tranches.
Amryt has lined up a €20m loan from the European Investment Bank to fund a Phase III pivotal study.