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TEL VENTURE CAPITAL, INC. INVESTS ADDITIONAL CAPITAL INTO UNIDYM, PLANS COLLABORATION IN LCD AND SOLAR INDUSTRIES
PASADENA, Calif, December 03, 2008
PASADENA, Calif.- Unidym, a majority owned subsidiary of Arrowhead Research Corporation (NASDAQ: ARWR), announced today that TEL Venture Capital, Inc., the U.S. investment arm of Tokyo Electron, has invested additional capital into the company. Concurrent with the investment, Unidym and Tokyo Electron intend to enter into a program to develop equipment for use in the production and integration of Unidymís films. The two companies also agreed to share information to advance Unidym's progress in printed electronics, a disruptive approach to electronics manufacturing that leverages inexpensive wet coating processes rather than the more expensive processes currently employed in the electronics industry.
Unidym is a leader in carbon nanotube-based transparent, conductive films (TCFs) for the electronics industry. TCFs are a critical component in devices such as touch panels, displays, and thin-film solar cells. For example, both touch panels and LCDs typically employ two TCF layers per device. Unidym's TCFs offer substantial advantages over the incumbent technology, indium-based metal oxides, including: improved durability, lower processing costs, and lower overall cost structure. For the LCD and solar industries, Unidym plans to sell a TCF ink that customers will deposit in their manufacturing lines. TEL and Unidym intend to work together to modify TEL's existing equipment to support Unidym's inks.
"Tokyo Electron's follow on investment validates our product offering in the display industry," said Art Swift, President and CEO of Unidym. "TEL is one of the world's leading suppliers of LCD manufacturing equipment and an ideal partner to provide complete equipment solutions to our LCD display customers."
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. Unidymís licensing program, technical expertise and manufacturing facilities can enable partners to rapidly develop CNT solutions for their specific applications.
TEL, established in 1963, is a leading supplier of innovative semiconductor and FPD production equipment worldwide. In Japan, TEL also distributes computer network related products and electronic components of global leading suppliers. To support this diverse product base, TEL is strategically located around the world. TEL is a publicly held company listed on the Tokyo Stock Exchange. www.tel.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 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. Arrowhead Research Corporationís 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 Statements 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.