The stock market is a place where anyone can trade and make money.
So why not make money selling drugs or other medical products that can help you?
That’s what Arrowhead Pharmaceuticals is doing with its newly-acquired vaccine startup Arrowhead Inc. The company announced on Wednesday that it has raised $1.9 billion in funding led by Alibaba Group Holding Ltd.
(BABA), the world’s largest Chinese internet company.
That’s about $500 million more than the $250 million the company had raised in the previous round.
Arrowhead also plans to open a research and development facility in China to focus on research on new and emerging treatments for diseases such as HIV and diabetes.
Arrowheads is also seeking to add about 1,000 jobs in the United States and China, CEO Tom O’Donnell said.
Arrow heads to market as the largest publicly traded vaccine startup in the U.S. and China.
But, Arrowheads success comes at a time when drugmakers are facing intense competition from innovative new companies that are hoping to make big inroads in the market.
Arrow has partnered with Pfizer Inc. to develop a vaccine for HIV, the worlds first vaccine for the virus.
Pfizer has been a huge investor in Arrowheads vaccines.
It has invested in Arrowhead over and over again and the company’s stock has soared over the past year.
The company has also been a pioneer in vaccine development, with the development of Arrowhead’s first vaccine, Arrowhead Epidemic, in 2012.
It launched two new vaccines, Arrowstream and Arrowhead Shield, in 2017.
Arrowstream is now in Phase 2 clinical trials in the US and Canada, and Arrowstream Shield is now being tested in the European Union and Japan.
Arrow’s new vaccine, the Arrowhead Vaccine, was approved for use in patients with advanced chronic kidney disease in October 2018.
It is currently in Phase 3 trials.
As of Thursday, Arrow has $10.4 billion in total cash and equivalents, according to Thomson Reuters I/B/E/S data.
Bowhead said it expects to invest $1 billion in the next few years, which it expects will be used to build a new, state-of-the-art research and product development facility.
Arrow said it has been in talks with about 60 potential partners and has about 100 people on its advisory board.
O’Donnell, Arrow’s co-founder and chief executive officer, said in a statement that the company believes it has an opportunity to disrupt the medical industry by combining the experience of an established pharmaceutical company with the expertise of a startup.
“It’s a real testament to the innovative nature of the Arrow team that they are so driven to build something that is innovative that will deliver immediate benefit to patients, our customers and society at large,” O’Connell said.
With $500m in funding, Arrow is now on track to double its valuation from its previous round of $1 million.
Last year, Arrow raised $350 million in a $10 billion deal that included Pfizer and its $4 billion Boehringer Ingelheim unit.
On Wednesday, Arrow posted a strong fourth-quarter net loss of $27 million, which included a $1 a share charge for non-cash expenses.
That came in ahead of the second-quarter earnings and included $500,000 in pre-tax losses.