PASADENA, Calif., April 20 /PRNewswire-FirstCall/ -- Arrowhead Research Corporation (OTC Bulletin Board: ARWR) announced today that its newly-formed nanotech subsidiary, Aonexx Technologies, Inc., has named Mr. Sean Olson as President. Aonexx Technologies is developing patented nano-layer transfer technologies and system integration solutions for the compound semiconductor industry. "Sean has a wealth of experience, strong leadership skills, and a clear strategic vision for the Company. He is also deeply knowledgeable on both the business principles and technologies that drive the semiconductor industry," said Harry Atwater, the Caltech Professor who developed the technology and co- founded the Company with Arrowhead Research. "We are very pleased to have him on the team." Mr. Olson joins Aonexx with technical and business experience in the semiconductor industry. He served in engineering and management positions at Silicon Valley Group Lithography (acquired by ASML), and supported technology and business development efforts at Oraxion Diagnostics, a start-up in the metrology space. He was also a strategy consultant for The Boston Consulting Group. Mr. Olson received his bachelor's and master's degrees in engineering from the Massachusetts Institute of Technology and a master's degree in Business Administration from the Harvard Business School. Aonexx Technologies was formed to commercialize a patented method for transferring nano-layers of semiconductor materials (e.g., indium phosphide, germanium, and gallium arsenide) and oxides (e.g., barium titanate, lithium niobate, and PMNPT) onto low-cost substrates (e.g., silicon, sapphire, and glass), with no adhesives and with controlled stress. Early applications are expected to include the development of inexpensive laminate wafers (e.g., indium phosphide on silicon and germanium on silicon) that could replace expensive, homogenous compound semiconductor substrates. These 'replacement' wafers are expected to reduce manufacturing costs and improve performance for devices such as LEDs, power amplifiers for wireless communications, and high-efficiency solar cells. Aonexx is currently scheduled to have limited samples available for evaluation purposes by qualified customers within three months. The Company is also exploring the use of the technology to support the integration of different semiconductor materials onto a single substrate. Such a technology would enable optical, logical, and high frequency power amplification devices to be integrated into single dies -- an industry trend termed 'system on a chip' (SoC) -- and bring with it opportunities for significant cost savings and performance improvements. Ultimately, the company hopes to enable the optical and electrical properties of device active regions to be engineered independently of the underlying substrate's thermal, dielectric, and mechanical properties. About Arrowhead Research Corporation Arrowhead Research Corporation funds research at universities in pioneering scientific areas, primarily nanotechnology, in return for exclusive rights to commercialize technologies and associated intellectual property and patents developed as a result of this research. The Company has already entered into agreements with the California Institute of Technology and three of its faculty, and is actively pursuing other potential partners at Caltech and other leading research institutions and universities. Commercial applications that arise from Company-sponsored research projects will be developed and marketed by Arrowhead Research through a series of diversified subsidiaries representing each product or application, or through third-party licensing. The first majority-owned subsidiary, Aonexx Technologies, was formed to commercialize an ultrathin crystal film (nanofilm) technology that was developed at Caltech. 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 recent economic slowdown affecting technology companies, 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 Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, 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.
SOURCE Arrowhead Research Corporation