Nanotechnology Now - Press Release: "Arrowhead to form new nanomedicine subsidiary and acquire nanotherapeutics company, C Sixty, Inc."

Home > Press > Arrowhead to form new nanomedicine subsidiary and acquire nanotherapeutics company, C Sixty, Inc.

Abstract:
Arrowhead Research Corporation (NASDAQ: ARWR) announced today that it has
formed a new wholly-owned subsidiary and has agreed to acquire the assets, as
well as the name, of C Sixty, Inc. (C-60), a company pioneering the development
of new drugs based on buckministerfullerenes (also known as fullerenes or
buckyballs).

Arrowhead to form new nanomedicine subsidiary and acquire nanotherapeutics company, C Sixty, Inc.

PASADENA, CA | Posted on March 26th, 2007

The new subsidary joins Arrowhead as its third focused on
nanomedicine. Arrowhead operates two other majority owned
subsidiaries commercializing nanotherapeutics. Calando
Pharmaceuticals is a leading RNAi company specializing in the design
and delivery of siRNA therapeutics. Insert Therapeutics is
commercializing drug-delivery-enhanced small-molecule therapeutics
and nucleic acids. Insert's first anti-cancer drug candidate is in
Phase I clinical trials.

"The future of medicine lies in targeted delivery of therapeutics
through nanotechnology," said R. Bruce Stewart, Arrowhead's Chairman.
"Our experience and expertise in this area makes C-60 a great
strategic complement to our other majority owned subsidiaries."

Fullerenes are a highly structured, water soluble, nanoscale form of
carbon, similar to carbon nanotubes, discovered by Richard Smalley,
who received the Nobel Prize for his work in this area. Roughly one
nanometer in diameter, the molecules are composed of 60 carbon atoms
and have the symmetry of soccer balls. The spherical shape, hollow
interior, and 60 carbon atoms of the molecule allow drug designers
the opportunity to attach therapeutic and targeting chemical groups
in many configurations.

C Sixty, Inc. has secured and developed a strong patent position
covering the strategic biomedical uses of fullerenes. Initially, C-60
will focus on the antioxidant activity of fullerenes. Arrowhead
believes that drugs based on fullerene antioxidant molecules may have
significant impact on several unsolved diseases, including
Parkinson's disease, Alzheimer's, stroke, atherosclerosis,
complications from diabetes and protection of bone marrow cells from
cancer chemotherapy and radiotherapy. Solutions for any of these
diseases could represent billion dollar annual market opportunities.

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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 ofthe "safe harbor" provisions of the Private Securities
Litigation Reform Actof 1995. These statements are based upon our
current expectations and speak onlyas 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 factorsand
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 filingsdiscuss 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.