Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Arrowhead Research Corporation Subsidiary Tego Biosciences Sells IP Portfolio to Luna Innovations

Abstract:
Arrowhead Research Corporation (NASDAQ: ARWR) today announced that its wholly owned subsidiary, Tego Biosciences, has completed a definitive asset purchase agreement for the sale of its non-cash intellectual property (IP) to Luna Innovations, Inc. (Nasdaq: LUNA), a developer and manufacturer of new-generation products that include pharmaceutical nanomedicines.

Arrowhead Research Corporation Subsidiary Tego Biosciences Sells IP Portfolio to Luna Innovations

Pasadena, CA | Posted on December 28th, 2009

Under the terms of the agreement, Luna paid Tego $430,000 upfront, will make milestone payments totaling $4.25 million for each fullerene product it brings to market under Tego IP, and pay royalties on net sales of its products built with the Tego IP.

Also under the terms of the agreement, Tego will receive payments of 10% on revenues from the licensing or resale of Tego's IP and 50% of net proceeds from The Bronx Project products developed using Tego IP. The Tego IP includes a broad portfolio of foreign and domestic patents and patent applications relating to modified fullerenes for use in diagnostics, therapeutic, imaging and other biopharmaceutical-related applications.

"This agreement is in line with Tego's plan to limit ongoing costs while retaining the ability to capture potential upside from its broad patent portfolio," said Arrowhead's President and CEO Dr. Christopher Anzalone. "Tego IP came into Arrowhead via the Carbon Nanotechnologies, Inc. acquisition, and we decided some time ago that it did not make sense for us to build the expertise necessary to develop fullerene-based healthcare products. We also recognized that there was a lot of potential value locked up in the Tego patent portfolio, so we sought to unlock that value with the right partner. As a company and through some of its senior scientists, Luna brings a strong knowledge base of fullerene derivatives. We believe that their focused effort to develop fullerene-based products has the potential to bear fruit, particularly now that it has access to the Tego patent portfolio. We view this as a potentially significant value-driver for Arrowhead in the long term because the Tego patent portfolio is not just applicable to a single product. Rather, it may be used for a suite of multiple products, each of which could bring value to Arrowhead via milestone payments and royalties."

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 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, the financial resources available to us, and general economic conditions. For example, there can be no assurance that Calando's clinical trials will be successful or that subsequent findings will be consistent with the initial findings. Arrowhead Research Corporation's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q discuss some of the important risk factors that may affect our business, results of operations and financial condition. We disclaim any intent to revise or update publicly any forward-looking statements for any reason.

####

About Arrowhead Research Corporation
Arrowhead Research Corporation (NASDAQ: ARWR) is a nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is seeking to build value for shareholders through the progress of majority-owned subsidiaries and minority investments commercializing nanotech products and applications.

For more information, please click here

Contacts:
The Piacente Group, Inc.
Brandi Floberg
212-481-2050

Copyright © Business Wire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

JPK’s NanoWizard AFM system is being used for cell studies in the Research Centre for Nanometer-scale Science & Advanced Materials at the Jagiellonian University in Krakow, Poland May 31st, 2016

Nanobiotix receives US$1m milestone payment from PharmaEngine: First patient injected with NBTXR3 in soft tissue sarcoma registration phase in Asia May 31st, 2016

GLOBALFOUNDRIES to Expand Presence in China with 300mm Fab in Chongqing: Company plans new manufacturing facility and additional design capabilities to serve customers in China May 31st, 2016

Nanobiotix establishes promising preclinical proof-of-concept in Immuno Oncology May 31st, 2016

Investments/IPO's/Splits

Nanometrics Announces Upcoming Investor Events May 10th, 2016

ORIG3N Added to Companies Presenting at Harris & Harris Group's Annual Meeting, Tuesday June 7, 2016, the New York Genome Center April 27th, 2016

Aspen Aerogels to Present at the 28th Annual ROTH Conference March 14th, 2016

Harris & Harris Group Announces Formation of Co-Investment Fund for Accredited Investors March 9th, 2016

Nanotubes/Buckyballs/Fullerenes

Programmable materials find strength in molecular repetition May 23rd, 2016

Nanotubes are beacons in cancer-imaging technique: Rice University researchers use spectral triangulation to pinpoint location of tumors May 21st, 2016

Unveiling the electron's motion in a carbon nanocoil: Development of a precise resistivity measurement system for quasi-one-dimensional nanomaterials using a focused ion beam May 16th, 2016

New research shows how silver could be the key to gold-standard flexible gadgets: Silver nanowires are an ideal material for current and future flexible touch-screen technologies May 13th, 2016

Nanomedicine

JPK’s NanoWizard AFM system is being used for cell studies in the Research Centre for Nanometer-scale Science & Advanced Materials at the Jagiellonian University in Krakow, Poland May 31st, 2016

Nanobiotix receives US$1m milestone payment from PharmaEngine: First patient injected with NBTXR3 in soft tissue sarcoma registration phase in Asia May 31st, 2016

Nanobiotix establishes promising preclinical proof-of-concept in Immuno Oncology May 31st, 2016

Automating DNA origami opens door to many new uses: Like 3-D printing did for larger objects, method makes it easy to build nanoparticles out of DNA May 30th, 2016

Announcements

JPK’s NanoWizard AFM system is being used for cell studies in the Research Centre for Nanometer-scale Science & Advanced Materials at the Jagiellonian University in Krakow, Poland May 31st, 2016

Nanobiotix receives US$1m milestone payment from PharmaEngine: First patient injected with NBTXR3 in soft tissue sarcoma registration phase in Asia May 31st, 2016

GLOBALFOUNDRIES to Expand Presence in China with 300mm Fab in Chongqing: Company plans new manufacturing facility and additional design capabilities to serve customers in China May 31st, 2016

Nanobiotix establishes promising preclinical proof-of-concept in Immuno Oncology May 31st, 2016

Patents/IP/Tech Transfer/Licensing

Nanobiotix receives US$1m milestone payment from PharmaEngine: First patient injected with NBTXR3 in soft tissue sarcoma registration phase in Asia May 31st, 2016

Programmable materials find strength in molecular repetition May 23rd, 2016

Syracuse University chemists add color to chemical reactions: Chemists in the College of Arts and Sciences have come up with an innovative new way to visualize and monitor chemical reactions in real time May 19th, 2016

Researchers integrate diamond/boron nitride crystalline layers for high-power devices May 12th, 2016

Nanobiotechnology

JPK’s NanoWizard AFM system is being used for cell studies in the Research Centre for Nanometer-scale Science & Advanced Materials at the Jagiellonian University in Krakow, Poland May 31st, 2016

Nanobiotix receives US$1m milestone payment from PharmaEngine: First patient injected with NBTXR3 in soft tissue sarcoma registration phase in Asia May 31st, 2016

Nanobiotix establishes promising preclinical proof-of-concept in Immuno Oncology May 31st, 2016

Automating DNA origami opens door to many new uses: Like 3-D printing did for larger objects, method makes it easy to build nanoparticles out of DNA May 30th, 2016

Alliances/Trade associations/Partnerships/Distributorships

UK NANOSAFETY GROUP publishes 2nd Edition of guidance to support safe working with nanomaterials May 30th, 2016

The CEA Announces Expanded Collaboration with Intel to Advance Cutting-edge Research and Innovation in Key Digital Areas May 17th, 2016

Solliance realizes first up-scaled Perovskite based PV modules with 10% efficiency: Holst Centre, imec and ECN pave the road to upscaling Perovskite PV modules May 10th, 2016

Industrial Nanotech, Inc. Expands Distribution Network in US and Internationally May 9th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic