Unidym CEO to Speak at Lux Executive Summit

Menlo Park, Calif.– October 16, 2007 – Unidym, Inc, a majority-owned subsidiary of Arrowhead Research Corporation (NASDAQ: ARWR), announced that Unidym’s President and CEO Arthur L. Swift will be speaking today at the Lux Executive Summit in Cambridge, MA. Mr. Swift’s presentation, entitled “Nanotechnology in the Post Silicon Era,” will detail Unidym’s view of carbon nanotechnology and the nanotube-based applications that the company is pioneering.

“We are very pleased to see our Founding Scientist, Mark Davis, receive this recognition for his pioneering work in creating nanoparticle therapeutics,” said John Petrovich, Chief Executive Officer of Insert Therapeutics. “The WNET documentary presents a compelling story as it explores in parallel the personal side of the process of scientific invention by Dr. Davis, and the struggles and triumphs of the first patient to undergo experimental treatment with our drug, IT-101.”

Unidym is a leader in the development and manufacture of carbon nanotubes for applications in the electronics industry. Unidym, which recently merged with Carbon Nanotechnologies, Inc. (CNI), possesses a foundational patent portfolio that covers nearly every aspect of carbon nanotube manufacturing and processing. Mr. Swift will broadly review Unidym’s current business context and specifically cover Unidym’s current work creating conductive, transparent films using networks of carbon nanotubes. These transparent electrodes have immediate application and advantages in touch screens and flat panel displays. Mr. Swift will also discuss the potential for carbon nanotubes in other applications areas such as thin film solar, fuel cells, and printed electronics.

The Lux Executive Summit brings together corporations, startups, and academic researchers working on commercializing cutting-edge technologies in fields including nanotech and cleantech. Now in its 3rd consecutive year, the summit caters exclusively to senior executives, fund managers and public sector leaders. It brings a strong focus on commercialization of technology and science. It is managed by Lux Research, which provides strategic advice and on-going intelligence for emerging technologies that helps leaders in business, finance, and government make informed strategic decisions.

About Unidym, Inc.

Unidym (www.unidym.com) is a leader in the manufacture and application of carbon nanotubes (CNTs), a novel material with extraordinary electrical, thermal, and mechanical properties. Unidym provides bulk materials, CNT-enabled products, and intellectual property to a wide range of customers and business partners. As a result of its recent merger with CNI, Unidym possesses a foundational patent portfolio that covers nearly every aspect of CNT manufacturing and processing as well as multiple product applications.

Unidym is focused on the electronics industry where its initial products include transparent electrodes for touch screens, flat panel displays, solar cells, and solid state lighting; electrodes for fuel cells; and thin film transistors for printable electronics. Unidym is also pursuing a cross-industry partnership strategy to capture value from the wide ranging uses of CNTs. Unidym’s licensing program, technical expertise and manufacturing facilities can enable partners to rapidly develop CNT solutions for their specific applications.

Unidym is a majority-owned subsidiary of Arrowhead Research Corporation (NASDAQ: ARWR) For more information about Arrowhead, please visit www.arrowheadresearch.com.

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

Robert Bismuth, Vice President, Business Development & Marketing
Telephone: 650.462.1935
Email: pr@unidym.com