| Posted: January 31, 2008 |
Rice Alliance receives major gift to support nanotechnology companies |
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(Nanowerk News) The Rice Alliance for Technology and Entrepreneurship (Rice Alliance) at Rice University received 50,000 shares of stock from leading nanotechnology firm Arrowhead Research Corp. (NASDAQ: ARWR). The gift will support the launch of technology-based companies through the Rice Alliance and in commercializing new technologies, especially in the field of nanotechnology. Based on the average historical market price of Arrowhead Research stock over the past 12 months, the gift would be valued at $250,000.
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“Arrowhead strongly supports the Rice Alliance vision to help make Houston the leading nanotechnology center in the world,” said Dr. Chris Anzalone, CEO and president of Arrowhead Research Corp. “Houston is the center of a tremendous amount of world class basic research in the nanosciences and is, therefore, well positioned to be a significant force in the ‘nanotechnology revolution’. Arrowhead is committed to helping Houston’s great institutions and creative thinkers commercialize these technologies.”
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The 7 Annual Nanotechnology Venture Forum, which took place on January 24, featured over 15 of the most promising nanotechnology start-up companies and provided an opportunity for them to connect with over 450 venture capitalists, angel investors, corporate partners, and other nanotechnology experts. Keynote speakers included Dr. Chris Anzalone, the CEO and President of Arrowhead Research.
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“With this gift, the Rice Alliance will be able to continue to assist promising nanotechnology firms, and help bring to market new technologies, which have diverse applications -- from downhole drilling to cancer tumor abatement,” said Brad Burke, managing director of the Rice Alliance.
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The Rice Alliance and the Rice Office of Technology Transfer have supported the launch of over twenty start-up companies based on Rice University faculty innovations and inventions, with more than half a dozen of these based on nanotechnology – including:
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Carbon Nanotechnologies, Inc. (now Unidym) which produces carbon nanotubes and is developing interactive display applications>/
Nanospectra Biosciences which is commercializing a particle-based therapy for the destruction of solid tumors
Oxane Materials, which uses nanotechnology to enhance oil and gas recovery
NanoComposites, Inc., which uses nanotubes to improve elastomers performance in applications such as blowout preventers
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Other Rice nanotechnology start-ups include Applied NanoFluorescence, NanoRidge Materials, NewCyte, and Natcore Technology.
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The Rice Alliance also supports promising technology companies from other universities, research institutions, and other sources. Since its founding in 1999, the Rice Alliance has assisted in the launch of more than 210 new technology-based companies, which have raised more than $300 million in early stage funding.
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“Arrowhead Research is eager to be involved as Houston leads the way in nanotechnology,” Dr. Anzalone said. “Nano medicine will transform the way disease is diagnosed and treated.”
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About the Rice Alliance for Technology and Entrepreneurship
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The Rice Alliance for Technology and Entrepreneurship (Rice Alliance) is Rice University's flagship initiative devoted to the support of technology entrepreneurship. The mission of the Rice Alliance is to support the creation of technology-based companies and the commercialization of new technologies. The Rice Alliance provides entrepreneurs with a collaborative network and forum for support, education, and exchange of ideas. It offers entrepreneurs access to the human and financial capital needed for success.
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About Arrowhead Research Corporation
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Arrowhead Research Corporation (www.arrowheadresearch.com) is a publicly-traded nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. The company works closely with universities to source early stage deals and to generate rights to intellectual property covering promising new nanotechnologies.
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