Arrowhead Announces the Issuance of Patent Covering a New Approach to Targeted Therapeutics
PASADENA, California – (BUSINESS WIRE) – April 12, 2006 – Arrowhead Research Corporation (Nasdaq:ARWR) announced today the U.S. Patent Office has issued U.S. Patent 7,018,609, Compositions Containing Inclusion Complexes. The patent is co-owned by the California Institute of Technology and Arrowhead's majority-owned subsidiary, Insert Therapeutics. In addition to covering applications pursued by Insert, the technology is licensed for use in RNAi therapeutics to Calando Pharmaceuticals, another majority-owned subsidiary of Arrowhead.
The patent claims cover methods of preparing new therapeutic compositions by assembling drug agents, cyclodextrin-containing polymers and compounds that provide stabilization and targeting abilities. The assembly of the new compositions occurs through the formation of inclusion complexes between the cyclodextrin-containing polymers and the stabilizing/targeting agents. These interactions do not involve the formation of strong chemical bonds and thus provide new ways of PEGylating and targeting that distinguish this technology from other patented approaches to the stabilization and targeting of small molecule, protein and nucleic acid therapeutics.
The PTO's decision to allow the claims set forth in the patent strengthens our competitive position as we bring both small molecule therapeutics (Insert) and RNAi therapeutics (Calando) to market," said R. Bruce Stewart, Arrowhead's Chairman. "Arrowhead intends to maintain focus on creating barriers to entry through patent protection in these key technology areas."
Patent 7,018,609 is part of a growing portfolio of U.S. and international patents and patent applications protecting technology being developed at Arrowhead subsidiaries. Insert recently obtained FDA approval to commence a Phase I clinical trial for its first anti-cancer product, IT-101. Calando recently announced a collaboration with the National Cancer Institute to develop RNAi for cancer therapeutics.
For more information about Insert and Calando, please visit their web site's at www.insertt.com and www.calandopharma.com.
About Arrowhead Research Corporation
Arrowhead Research Corporation (www.arrowheadresearch.com) 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 founded on nanotechnologies originally developed at universities. The company works closely with universities to source early stage deals and to generate rights to intellectual property covering promising new nanotechnologies. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications, including anti-cancer drugs, RNAi therapeutics, carbon-based electronics and compound semiconductor materials.
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, 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 Annual Report on Form 10-K and 10-K/A, recent and forthcoming Quarterly Reports on Form 10-Q and 10-Q/A, recent Current Reports on Forms 8-K and 8-K/A, our Registration Statement 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.
Contacts
Virginia Dadey; Vice President, Investor Relations
Telephone: 212.541.3707
Email: vdadey@arrowres.com