A Medical Device Daily
Arrowhead Research (Pasadena, California) reported that a majority of the shareholders of Nanotechnica (also Pasadena) have voted to dissolve Nanotechnica.
In light of the dissolution, Arrowhead will not make contemplated additional capital contributions of $16 million to Nanotechnica. A portion of Nanotechnica’s intellectual property portfolio covering microfluidic-based devices has been transferred to Arrowhead.
“Arrowhead intends to pursue a more cost-effective approach to integrating microfluidics with nanoscale devices and to commercializing this promising technology,” said R. Bruce Stewart, president of Arrowhead.
Nanotechnica, one of Arrowhead’s three majority-owned subsidiaries, was formed to develop capabilities for mass-production of a variety of proprietary nanoscale devices and systems (Medical Device Daily, Sept. 21, 2004). Arrowhead Research is a diversified nanotechnology company structured to commercialize products expected to have revolutionary impacts on a variety of industries including materials, electronics, life sciences and energy.