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
"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
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