Arrowhead Forms New Subsidiary to Commercialize Energy Storage Devices.PASADENA, Calif. -- Arrowhead Research Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ARWR) announced today that it has formed Agonn Systems Corporation to explore, develop and commercialize nanotechnology-based energy storage devices for electric vehicles and other large format applications. Agonn has initiated a strategy to acquire energy storage technologies based on nanoscale engineering from research institutions and expects to begin prototyping ultracapacitors based on carbon nanotubes and other advanced materials this year. The formation of Agonn Systems is part of a strategy at Arrowhead to leverage nanotechnology for clean energy applications. "We implemented a similar roll up of intellectual property, device design, and manufacturing capability to build our majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. Unidym into a leader in the application of carbon nanotubes for electronics," said Arrowhead CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Chris Anzalone. "We intend to replicate this strategy in the field of nanotech-based energy storage devices." Arrowhead has established for Agonn a team of scientific advisors pioneering nanotechnology-based energy storage, including: * Alan Gotcher, Ph.D., former CEO, Altair Nanotechnologies Inc, and former Chief Technology Officer and Senior Vice President, Manufacturing at Avery Dennison. * Joel Schindall, Ph,D., the Bernard Gordon Professor of Electrical Engineering and Computer Science at the Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, and Associate Director of the Laboratory for Electromagnetic and Electronic Systems (LEES) at MIT MIT - Massachusetts Institute of Technology * Jud Ready, Ph,D., Senior Research Engineer and Adjunct Professor, Georgia Tech Research Institute The Georgia Tech Research Institute (GTRI) is the nonprofit applied research arm of the Georgia Institute of Technology in Atlanta, Georgia. GTRI employs around 1,300 people, and is involved in approximately $100 million in research annually for more than 200 clients in industry (GTRI GTRI Georgia Tech Research Institute GTRI Global Threat Reduction Initiative ) * Satish Kumar, Ph,D., Professor of Textile and Fiber Engineering at Georgia Tech * Prashant N. Kumta, Ph,D., Edward R. Weidlein Chair Professor at the University of Pittsburgh Swanson School of Engineering About Arrowhead Research Corporation Arrowhead Research Corporation (www.arrowheadresearch.com) (NASDAQ:ARWR) is a publicly-traded nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is building value for shareholders through the progress of majority owned subsidiaries. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications and investments in two minority-owned subsidiaries. About Agonn Systems Agonn Systems is a newly-formed company focused on developing nanotech-based energy storage devices for hybrid electric vehicles and other applications. Agonn is a subsidiary of Arrowhead Research. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 and general economic conditions. Arrowhead Research Corporation's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and 10-K/A, recent and forthcoming Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. and 10-Q/A, recent Current Reports on Forms 8-K and 8-K/A, our Registration Statements on Form S-3, and other SEC filings discuss some of the 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. |
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