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Unidym, Inc. Appoints Semiconductor Industry Executive as Vice President for the Asia Pacific Geography

Thursday May 15 9:00 PM

Unidym Incorporated, a majority-owned subsidiary of Arrowhead Research Corporation (NASDAQ:ARWR), announced today that Mr. Takashi Murayama has been appointed its Vice President for the Asia Pacific Geography. Unidym Inc. is a leader in the development and manufacture of carbon nanotubes for applications in the electronics industry. The company has become increasingly focused on Asia, a key geographic market for sales of its products and licensing of its substantial patent portfolio.

"Murayama san brings to Unidym his strong industry relationships throughout Japan and the Asia Pacific region," said Art Swift, Unidym's President & CEO. "For some time now we have been working with Japanese and other Asian manufacturers in response to their strong interest in our products and technology. Murayama san has exactly the right successful track record to establish Unidym's local presence in the geography in order to better serve our customers and partners."

"Unidym's technology and products have obvious appeal to manufacturers in the Asia Pacific region," commented Mr. Murayama. "With multiple grades of carbon nanotubes available for bulk purchase, well implemented electronics applications for carbon nanotubes and an extensive patent portfolio, Unidym has the necessary elements that partners are looking for in this region. I am excited at this opportunity to help extend the company's reach as it expands its presence within Japan, Korea, China and Taiwan."

Mr. Murayama comes to Unidym from MoSys Inc., a memory IP company in Silicon Valley, where he was Vice President of the Japan operation and significantly grew MoSys' business with Japan. Prior to MoSys, he served as a Vice President of Transmeta and as President of Transmeta KK. Mr. Murayama joined Transmeta after executive positions at Mindspeed KK, a subsidiary of Conexant, He joined Conexant after a successful career with Intel in Japan. Mr. Murayama holds a B.S. in electrical engineering from Kagoshima University in Japan.

About Unidym, Inc.

Unidym 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 an aggressive, 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.

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 Corporation's 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.

Contact:

Unidym, Inc.
Robert Bismuth, 650-462-1935
pr@unidym.com
or
Arrowhead Research
Virginia Dadey, 212-541-3707
vdadey@arrowres.com

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