Nanotechnology Now





Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Arrowhead CEO Provides Perspective on $4.5 million Alliance Between Subsidiary Unidym and Samsung Electronics

Abstract:
Arrowhead Research Corporation's (NASDAQ: ARWR) ("the Company") President and Chief Executive Officer today issued the following open letter to the Company's shareholders:

Arrowhead CEO Provides Perspective on $4.5 million Alliance Between Subsidiary Unidym and Samsung Electronics

Pasadena, CA | Posted on December 10th, 2010

Dear Shareholders:

Yesterday, Unidym announced that it has entered into intellectual property cooperation and license agreements with Samsung Electronics Co., Ltd., and I wanted to provide our shareholders with a brief overview of how this event fits into our overall business strategy. These are important agreements that will help Unidym grow its business, and they represent the accomplishment of two more goals Arrowhead articulated for 2010: establishment of a new partnership for Unidym and movement toward Unidym becoming financially independent.

Under the agreements, Unidym non-exclusively licensed and transferred certain patent rights to Samsung, including patent rights for manufacture and use of carbon nanotubes (CNTs) in electronic products. An intellectual property cooperation agreement includes provisions for Samsung to underwrite and support Unidym licensing and enforcement of these patents against third parties. A business cooperation agreement includes provisions for Unidym to supply CNTs to Samsung, as well as an initial prepaid purchase order. The agreements preserve rights for Unidym's current and future business needs and the needs of current and future licensees.

This deal couples the strength of Samsung in the electronics markets and the power of Unidym's intellectual property for CNT manufacturing and applications. Unidym has been working with Samsung for several years to develop next generation CNT-based displays, and we are pleased that this relationship is moving into a new phase.

These agreements fit squarely into Arrowhead's plans for Unidym. As we have said in the past, we see considerable value in Unidym, but it no longer fits within Arrowhead's long-term strategic roadmap. We believe our shareholders are best served by an Arrowhead that becomes a focused nanomedicine company, so our goal has been to build Unidym's business and adoption of its technology such that it may become financially independent of Arrowhead and ultimately be acquired. We view these agreements as important steps toward these goals.

* They provide a moderate non-dilutive net cash infusion, enabling Unidym to repay Arrowhead nearly $1 million of intercompany debt and providing Unidym with operating capital. This enables Arrowhead to allocate extra capital to its nanomedicine initiatives.
* They provide Samsung with a clear path through Unidym's large patent estate and, therefore, the ability to bring products to market. We view this as an important opportunity with a potential customer. Should Samsung need to source high quality CNT materials for such products, Unidym hopes to leverage its deep experience in this area to compete as a potential supplier.
* Samsung is an innovator in electronics, and we hope it will open new markets and customers for Unidym. Should other companies move to incorporate CNTs into electronic devices, Unidym would be well positioned to sell licenses to it patents and supply CNT materials in these markets.
* The patent enforcement alliance enhances Unidym's ability to protect its patent estate from infringement, improving Unidym's ability to execute high quality licenses and supply agreements.

With this alliance complete, we hope that Unidym will further develop the relationship it has built with Samsung over the years. We see this as a strong validation of Unidym's broad platform and indicative of a growing interest in developing potentially market-changing CNT-based products. Beyond Samsung, we view this as a step toward expanding Unidym's customer base and strengthening Unidym's position with new customers and partners. Finally, this alliance has immediate value as a source of capital for Unidym beyond Arrowhead. We believe that these factors ultimately drive value for our shareholders by easing Arrowhead's near term capital requirements and making Unidym a more attractive acquisition target.

Thank you for your interest in our company, and we wish you a happy and peaceful holiday season.

Sincerely,

Christopher Anzalone

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 current state of the economy, capital resources available to us, 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 most recent Annual Report on Form 10-K, as amended, and subsequent Quarterly Reports on Form 10-Q and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition, including the risks relating to the development of Unidym's technology and business. 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. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications and minority investments in two privately held nanobiotech companies.

For more information, please click here

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

Copyright © Arrowhead Research Corporation

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

Conversion of Greenhouse Gases to Syngas in Presence of Nanocatalysts in Iran May 22nd, 2015

New Antibacterial Wound Dressing in Iran Can Display Replacement Time May 22nd, 2015

Haydale Named Lead Sponsor for Cambridge Graphene Festival May 22nd, 2015

Simulations predict flat liquid May 21st, 2015

Display technology/LEDs/SS Lighting/OLEDs

Statement by QD Vision regarding European Parliament’s Vote on Cadmium-Based Quantum Dots May 20th, 2015

ORNL demonstrates first large-scale graphene fabrication May 14th, 2015

CLAIRE brings electron microscopy to soft materials: Berkeley researchers develop breakthrough technique for noninvasive nanoscale imaging May 14th, 2015

QD Vision to Showcase Quantum Dot “Firsts” at Display Week 2015: Executives will present, demo current and future quantum dot technology May 13th, 2015

Investments/IPO's/Splits

Evident Thermoelectrics Acquires GMZ Energy: Investment Accelerates Launch Of Evident's Thermoelectric Modules For Waste Heat May 20th, 2015

Nanometrics Announces Live Webcast of Upcoming Investor and Analyst Day May 20th, 2015

PEN Inc. Announces First Quarter Financial Results: Investor Webcast and Business Update Set for May 21, 1 pm EDT May 13th, 2015

Harris & Harris Group Portfolio Company OpGen Raises $17.1 Million in Initial Public Offering May 6th, 2015

Nanotubes/Buckyballs/Fullerenes

Researchers develop new way to manufacture nanofibers May 21st, 2015

Sandia researchers first to measure thermoelectric behavior by 'Tinkertoy' materials May 20th, 2015

Cotton fibres instead of carbon nanotubes May 9th, 2015

A better way to build DNA scaffolds: McGill researchers devise new technique to produce long, custom-designed DNA strands May 6th, 2015

Announcements

Conversion of Greenhouse Gases to Syngas in Presence of Nanocatalysts in Iran May 22nd, 2015

New Antibacterial Wound Dressing in Iran Can Display Replacement Time May 22nd, 2015

Haydale Named Lead Sponsor for Cambridge Graphene Festival May 22nd, 2015

INSIDDE: Uncovering the real history of art using a graphene scanner May 21st, 2015

Patents/IP/Tech Transfer/Licensing

Researchers develop new way to manufacture nanofibers May 21st, 2015

Novel superconducting undulator provides first x-ray light at ANKA May 1st, 2015

Long Island Capital Alliance Announces Participants for Brookhaven National Laboratory Technology Transfer Capital Forum on May 8: Keynote Speaker Dr. Doon Gibbs, Director of Brookhaven National Laboratory April 16th, 2015

MIT sensor detects spoiled meat: Tiny device could be incorporated into 'smart packaging' to improve food safety April 15th, 2015

Alliances/Partnerships/Distributorships

Samtec, Global Provider of Interconnect Systems, Joins IRT Nanoelec Silicon Photonics Program May 21st, 2015

SUNY Poly CNSE and NIOSH Launch Federal Nano Health and Safety Consortium: May 20th, 2015

Industrial Nanotech, Inc. Announces Official Launch of the Eagle Platinum Tile™ May 19th, 2015

DiATOME enables surface preparation for AFM and FIB May 19th, 2015

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