Calando Pharmaceuticals, a subsidiary of Arrowhead Research, has struck a licensing deal with Cerulean Pharma for Calando's drug delivery platform, Cyclosert, and the associated clinical stage anti-cancer drug, IT-101. Calando, which has been focused on reducing its burn rate, gets $2.4 million upfront and up to $2.75 million in milestones up to an approval. "Calando's cyclodextrin co-polymer based technology is founded on elegant chemistry, and the integration of this platform into our program fully leverages the expertise and capabilities that we have built," said Cerulean CEO Dr. Oliver Fetzer. Release