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Arrowhead Research Corporation (NASDAQ: ARWR), announced today that its new wholly-owned nanobioscience subsidiary has changed its name from "C Sixty Acquisition Corp". to "Tego BioSciences Corporation". The subsidiary recently acquired the assets of C Sixty, Inc. and is focused on the development of new protective products based on the anti-oxidant properties of modified buckministerfullerenes (also known as fullerenes or buckyballs). Tego is initially developing products to reduce oxidative damage caused by sun exposure, radiation therapy, and chemotherapy and mitigate complications associated with organ transplantation and tissue engineering.
"Tego is set to commence preclinical animal studies in collaboration
with the National Cancer Institute this summer," said R. Bruce
Stewart, Chairman of Arrowhead. "Tego is in the process of assembling
a business and technical team with expertise in nanoparticle-based
therapeutics and skin care products."
The preclinical studies will be performed in the NCI's Nanotechnology
Characterization Lab (NCL) to measure the ability of a Tego fullerene
formulation to protect against harmful side effects of two
anti-cancer drugs, cisplastin and adriamycin. The first stage of the
studies will use NCL's resources, with follow on funding from Tego,
The National Cancer Institute (NCI), working in concert with the
National Institute of Standards and Technology (NIST) and the U.S.
Food and Drug Administration (FDA), established the Nanotechnology
Characterization Laboratory (ncl.cancer.gov) to perform preclinical
efficacy and toxicity testing of nanoparticles. The NCL serves as a
national resource and knowledge base for all cancer researchers to
facilitate the regulatory review of nanotechnologies intended for
cancer therapies and diagnostics. By providing the critical
infrastructure and characterization services to nanomaterial
providers, the NCL can accelerate the transition of basic nanoscale
particles and devices into clinical applications, thereby reducing
suffering and death from cancer.
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
About Tego BioSciences Corporation
Tego BioSciences Corporation (www.tegobio.com) is developing and
commercializing therapeutics and other products based on the
antioxidant properties of modified fullerenes. The patent protected
platform forms the basis for several products. The company is
initially focused on developing products to reduce oxidative damage
caused by sun exposure, radiation therapy, and chemotherapy and
mitigate complications associated with organ transplantation and
tissue engineering. For other applications of derivatized fullerenes
such as MRI imaging or central nervous system disorders, Tego
BioSciences will establish a program to license and partner the
commercialization of its intellectual property to third parties.
Fullerenes are a highly structured, nanoscale form of carbon, similar
to carbon nanotubes. 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.
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
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