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Arrowhead Research Corporation (ARWR 1.11, -0.01, -0.89%) today announced that it has signed an option agreement with The University of Texas MD Anderson Cancer Center to negotiate a license in a defined field to a class of compounds that is believed to kill fat tissue by specifically targeting the blood vessels that supply it.
The technology was developed in the laboratory of Drs. Renata Pasqualini and Wadih Arap at MD Anderson in Houston, Texas. Arrowhead sees the technology platform as an attractive candidate around which to form a new majority-owned subsidiary to steer the technology through clinical development.
"We've been tracking obesity and metabolic markets for some time and have been searching for technology with the potential of serving these markets in a unique and powerful way," said Christopher Anzalone, Arrowhead's CEO. "We believe the platform that Drs. Pasqualini and Arap have developed may represent a great leap forward in treating obesity, a condition with significant quality of life issues and virtually unparalleled direct and indirect economic costs. This is also a relatively advanced program from a development standpoint and could be ready to begin human clinical trials in the near term."
The breakthrough approach was first published in the prestigious scientific journal Nature Medicine in May 2004 and received widespread media attention, including write-ups in the Wall Street Journal and the New York Times. Since 2004, Drs. Pasqualini and Arap have worked to refine the technology and complete preclinical efficacy and toxicity testing in preparation for clinical trials.
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 clinical studies, our ability to successfully develop and manufacture products, rapid technological change in our industry, changes in demand for our future products, legislative, regulatory and competitive developments and general economic conditions. Our Annual Report on Form 10-K, and other SEC filings discuss these and other 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.
About Arrowhead Research Corporation
Arrowhead Research Corporation (ARWR 1.11, -0.01, -0.89%) is a nanotechnology company commercializing new technologies in the areas of life sciences and electronics. Arrowhead is seeking to build value for shareholders through the progress of its portfolio companies. Currently, Arrowhead is focused primarily on its two majority owned subsidiaries, Unidym, a leader in carbon nanotube technology for electronic applications, and Calando, at the forefront of clinical application of RNAi delivery technology. Arrowhead also has minority investments in two privately held nanobiotech companies.
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Brandi Floberg, 212-481-2050
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