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Arrowhead pumps more than $2 million into Tego subsidiary
November 2007
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PASADENA, Calif.—Arrowhead Research Corp. has provided $2.4 million in additional capital to its wholly owned subsidiary, Tego Biosciences Corp., which is developing and commercializing therapeutics and other products based on the antioxidant properties of modified fullerenes. In addition, Dr. Russ Lebovitz has been appointed CEO to chart the strategic direction and guide the operations of the new nano-biotechnology company. Dr. Lebovitz served previously as CEO of C Sixty Inc., the company that pioneered the technology now owned by Tego.

"Tego's fullerene-based drug technology represents a potential breakthrough in the treatment of acute and chronic degenerative diseases throughout the body, since the company's pharmaceutical candidates clearly block apoptotic cell death in both cell culture and animal models," says Dr. Lebovitz. "Tego's efforts to establish a premier product pipeline are greatly enhanced by our association with Arrowhead, which gives us ongoing financial stability, access to growth capital and a corporate track record in developing cutting-edge products and novel materials."  

 

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