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Arno grosses $20mm through private placement

Executive Summary

Arno Therapeutics Inc. (cancer drug development) grossed $20mm through the private sale of units to a syndicate of investors including returning backers Soros Fund Management and affiliates, Perceptive Advisors, Sabby Capital, the Pontifax Group, Commercial Street Capital, and Bellco Capital (controlled by Arno’s executive chairman Dr. Arie Belldegrun and his family). Also participating were new buyers Opko Health (which was separately granted an exclusive right of first negotiation regarding future potential strategic transactions), Dr. Philip Frost (Opko’s chairman and CEO), David Bonderman (founding partner of TPG Capital), and Arno’s senior management team.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement
    • Private Investment in Public Biotech

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