Arrowhead subsidiary Unidym and carbon nanotechnologies close merger
Arrowhead Research Corporation announced that its majority-owned subsidiary, Unidym, has closed the merger with Carbon Nanotechnologies (CNI). The combined company, which will operate under the Unidym name, has a dominant portfolio of carbon nanotube-related patents.
"In addition to integrating the operations of the two companies, our priority over the coming months will be developing strategic partnerships and the licensing program," said R. Bruce Stewart, Arrowhead's Chairman. "We expect the merger to stimulate increased interest in carbon nanotube technology."
Unidym is developing carbon nanotube-based products for the electronics industry. The company's first product is a transparent electrode that is intended to replace the indium tin oxide (ITO) electrodes in products such as flat-panel displays used in televisions, laptop computers, mobile phones and touch screens, solar cells, and solid state lighting. The total existing market for this product is approximately $1 billion.
Unidym has already provided samples to potential customers in each of its target industries. Unidym's second product is a carbon nanotube-based thin film transistor (TFT) intended for the emerging flexible (also known as printable) electronics industry.
Under the terms of the deal, Arrowhead transferred to the combined company its sponsored research agreements with Duke University and the University of Florida, as well as accelerated an additional capital contribution of $4 million. Arrowhead maintains majority-ownership of Unidym.
