Arrowhead Research Corporation Acquires Early Nanosensor Patent Portfolio
PASADENA, California – (BUSINESS WIRE) – May 19, 2005 – Arrowhead Research Corporation (NASDAQ:ARWR)(NASDAQ:ARWRW) announced today that it has acquired a suite of patent and patent applications covering nanosensor technology developed by Dr. Hermann Gaub, a Professor of Biophysics at the Center for Nanoscience at Ludwig-Maximilians University in Munich. Arrowhead and its subsidiaries now own or have licenses to over 250 U.S. and international patents and patent applications.
"Nanosensors are expected to radically change the way we diagnose disease. Now, we go to the doctor's office to have large samples of blood taken and then wait for days to get the results from a remote laboratory," said R. Bruce Stewart, President of Arrowhead. "With a nanosensor-enabled device, tests could be performed with a single drop of blood - and the results obtained within minutes."
The portfolio covers techniques for measuring biomolecular interactions by single-molecule force spectroscopy. As reported in "Science" in 2003, the devices are sensitive enough to detect single-base pair mismatches of DNA and have demonstrated significant improvement over state-of-the-art instrumentation. The patent applications also cover construction of parallel assays for placing millions of sensors on a chip. These patent and patent applications were acquired for a di minimus cash payment and are complementary to other patents to which Arrowhead already has rights.
About Arrowhead Research Corporation
Arrowhead Research Corporation (www.arrowheadresearch.com) is a publicly-traded nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is building value for shareholders through the progress of majority owned subsidiaries founded on nanotechnologies originally developed at universities. The company works closely with universities to source early stage deals and to generate rights to intellectual property covering promising new nanotechnologies. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications, including anti-cancer drugs, RNAi therapeutics, carbon-based electronics and compound semiconductor materials.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the recent economic slowdown affecting technology companies, the future success of our scientific studies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K and 10-K/A, recent and forthcoming Quarterly Reports on Form 10-Q and 10-Q/A, recent Current Reports on Forms 8-K and 8-K/A, our Registration Statement on Form S-3, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
Contacts
R. Bruce Stewart, President
Telephone: 626.792.5549
Email: bruce@arrowres.com