CLOUD

Arrowhead Research Corporation, an emerging company in the field of nanotechnology, announced today that it has hired Joseph T. (Ted) Kingsley, CPA, as its Chief Financial Officer. "Ted brings to Arrowhead more than 20 years of executive-level management experience across a broad range of industries. We expect that his experience at start-up and established companies will be instrumental in building Arrowhead Research and its subsidiary companies," said R. Bruce Stewart, President of Arrowhead Research. Since 2002, Mr. Kingsley has served as Vice President and Chief Financial Officer for Eidogen, Inc., a Pasadena-based start-up developing computational drug discovery platforms. He was Vice President, Operations and Chief Financial Officer from 1997 until 2002 for the now waning company, Paracel. Mr. Kingsley negotiated and managed the acquisition of Paracel by Celera Genomics in June 2000 and continued as VP, Finance and Operations of Paracel, a subsidiary of Celera Genomics, after the transaction. He has held similar positions with other companies, including Science Applications International Corp. (SAIC), a Fortune 500 government and commercial contractor. He received his B.A. in Economics from Ohio Wesleyan University, and his MBA from Northwestern University. Arrowhead Research is a development-stage nanotechnology company structured to bring together a diverse and innovative mix of technologies, rights to a broad suite of intellectual property, and some of the most respected minds in this dynamic field. There are three strategic components to Arrowhead's business model: -- Funding newly formed and existing entities engaged in the development and commercialization of nanoscale materials, devices, and systems. -- The funding of nanoscience research at universities in exchange for the right to commercialize resulting intellectual property. -- The acquisition, license, and sublicense of intellectual property in the field of nanotechnology. Arrowhead Research operates three majority-owned subsidiary companies: -- Aonex Technologies, Inc., developing and commercializing semiconductor nanomaterial technology. -- Insert Therapeutics, Inc., which is developing and commercializing a proprietary drug delivery system. -- Nanotechnica, Inc., formed to develop capabilities for mass production of a variety of different nanoscale devices and systems. Arrowhead is funding three research efforts in nanotechnology at the California Institute of Technology in the areas of nanomaterials, nanoelectronics, and biomolecular tools.