PASADENA, Calif., April 22 /PRNewswire-FirstCall/ -- Arrowhead Research Corporation (OTC Bulletin Board: ARWR), an emerging company in the field of nanotechnology, announced today that it has agreed to take a majority position in Insert Therapeutics, Inc., a Pasadena-based company focused on designing, developing and commercializing delivery-enhanced therapeutics using its patented class of polymers. With research being led by Dr. Mark Davis, a professor of chemical engineering at the California Institute of Technology, Insert Therapeutics is currently expanding and leveraging its platform technology, Cyclosert(TM), through an internal small-molecule drug development program, a gene-therapy collaboration with San Diego-based Canji, Inc., a subsidiary of Schering-Plough. The founder of Insert Therapeutics, Dr. Davis is a Member of the National Academy of Engineering and a recipient of numerous awards including the prestigious Alan T. Waterman Award, given by the National Science Foundation annually to only one scientist in the United States across all disciplines. Dr. Davis was the first engineer to win this award for his work in rationally designed materials. Dr. Davis earned his B.S., M.S. and Ph.D. degrees in Chemical Engineering, holds over 30 patents, has published more than 300 papers and has presented over 450 seminars throughout the world. Insert has designed a novel class of "intelligent" polymers that incorporate properties for the intracellular, systemic delivery of a broad range of therapeutics. The polymer-therapeutic composites form nanoparticles that have designable size and functions. These "smart" nanoparticles can deliver therapeutics ranging from small molecules to genes and their combinations. Unlike passive drug carriers, Cyclosert polymers respond to biological mechanisms and micro-environmental conditions enabling the active release of their therapeutic payload into tumor cells or other selected tissues, that can be targeted with the attachment of various cell surface receptor ligands. Cyclosert's linear cyclodextrin-containing polymers can be designed to be neutral, positively charged or negatively charged. This feature is unique to Cyclosert technology and provides great flexibility for formulation and delivery. Cyclosert has been synthesized at molecular weights high enough to provide for to slowed renal clearance, enhanced circulation time and improved accumulation of active drug at the target tissue. Using Cyclosert, Insert has significantly improved the solubility, stability, toxicity, efficacy and pharmacokinetic characteristics of anticancer drugs. 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