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Unidym, Inc., a majority owned subsidiary of Arrowhead Research Corporation (NASDAQ: ARWR), today announced that it has completed three licensing agreements for its nanotechnology intellectual property (IP) for use in applications such as aerospace and military products. Each license agreement provides for modest upfront fees and future royalty payments to Unidym.
"Licensing our IP outside of our core market in printable electronic materials, illustrates the breadth of Unidym's patent portfolio," said Mark Tilley, CEO of Unidym. "Early adoption of our IP for developing products and technologies in a broad array of applications provides further validation of the value of our technology portfolio among large and maturing markets. As a first mover in evolving industries, we believe we hold a significant competitive advantage. In-line with our strategy to monetize the value of our IP, we will continue to seek revenue generating licensing opportunities beyond the markets in which we intend to sell our high-margin electronic inks and films."
The agreements comprise the following:
· Nonexclusive license to a large Japanese materials company. The license is for U.S. Patent 6,852,410 covering the use of carbon nanotubes to manufacture high performance carbon fibers for structural composites such as aerospace applications;
· Nonexclusive license to Torrey Pines Technologies, a San-Diego based designer of advanced technologies for RF, microelectronics and automated equipment. The license is for a suite of patents related to the use of vertically aligned nanotubes and nanofibers as thermal interface materials in military and space products.
· Nonexclusive license to Nano Lab, a Boston-based manufacturer of vertically aligned carbon nanotubes. The license is for U.S. Patent 6,863,942 covering the growth of vertically aligned carbon nanotubes on certain substrates.
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 Arrowhead or its subsidiaries will be able to sustain operations for expected periods, that we will be able to achieve or sustain targeted levels of expense reductions or that any of these entities will be successful in obtaining additional funding needed to sustain operations. 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
Unidym is a leader in carbon nanotube-based transparent, conductive films (TCFs) for the electronics industry. TCFs are a critical component in devices such as touch panels, displays, and thin-film solar cells. For example, both touch panels and LCDs typically employ two TCF layers per device. Unidym's TCFs offer substantial advantages over the incumbent technology, indium-based metal oxides, including: improved durability, lower processing costs, and lower overall cost structure.
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