Nanotechnology Now

Our NanoNews Digest Sponsors


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

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

Fast, stretchy circuits could yield new wave of wearable electronics May 30th, 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

Simple attraction: Researchers control protein release from nanoparticles without encapsulation: U of T Engineering discovery stands to improve reliability and fabrication process for treatments to conditions such as spinal cord damage and stroke May 28th, 2016

Display technology/LEDs/SS Lighting/OLEDs

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

This 'nanocavity' may improve ultrathin solar panels, video cameras and more 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

First single-enzyme method to produce quantum dots revealed: Biological manufacturing process, pioneered by three Lehigh University engineers, produces equivalent quantum dots to those made chemically--but in a much greener, cheaper way May 9th, 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

Announcements

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

Fast, stretchy circuits could yield new wave of wearable electronics May 30th, 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

Simple attraction: Researchers control protein release from nanoparticles without encapsulation: U of T Engineering discovery stands to improve reliability and fabrication process for treatments to conditions such as spinal cord damage and stroke May 28th, 2016

Patents/IP/Tech Transfer/Licensing

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

New tool allows scientists to visualize 'nanoscale' processes May 4th, 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