Arrowhead Subsidiary Calando Pharmaceuticals Expands Board of Directors

PASADENA, Calif.--(Business Wire)--
Arrowhead Research Corporation (NASDAQ:ARWR) today announced that its majority
owned subsidiary, Calando Pharmaceuticals, Inc., has appointed Mostafa Analoui,
Ph.D., and Bruce D. Given, MD, to its Board of Directors.

"We`re delighted to welcome Bruce and Mostafa to the Calando Board of
Directors," said Dr. Christopher Anzalone, Arrowhead's President and Chief
Executive Officer. "Each has deep clinical and large Pharma experience that will
be invaluable as we work to monetize Calando`s ground breaking RNAi drug
delivery platform and clinical stage RNAi therapeutic."

Dr. Given is a healthcare products consultant and is the Principal of Bruce
Given Consulting. Prior to the establishment of his consulting practice, Dr.
Given was President and Chief Executive Officer of Encysive Pharmaceuticals
Inc., which was subsequently acquired by Pfizer. Prior to joining Encysive, he
was with Johnson & Johnson for nine years, serving in several capacities
including as President, International, Ortho-Clinical Diagnostics and as Group
Vice President, Head of U.S. Marketing & Sales, Research & Development for
Janssen Pharmaceutica, Inc. He has held various executive and senior management
positions at Sandoz Pharma Ltd., Sandoz Research Institute and Schering-Plough
Corporation. Prior to entering the pharmaceutical industry, he was on the
medical faculty at the University of Chicago. Dr. Given currently serves on the
Board of Directors for ICON Plc, BioHouston, and for the Texas Life Science
Center. He is a member of the Technology Review Committee of MD Anderson Medical
Center, and is past Chairman of the Rider University Scientific Advisory Board.
Dr. Given is board certified in internal medicine and endocrinology and
metabolism and has authored 33 scientific publications. Dr. Given`s honors
include the Franklin McLean Research Award from the University of Chicago,
election to Alpha Omega Alpha and the Provost Award from Colorado State
University.

Providing industry leadership in the biomedical and technology fields, Dr.
Analoui is actively involved in investment, management, and scientific/business
development of nanotechnology, drug discovery/development, diagnostic imaging,
and global strategies. Currently, he serves as head of Healthcare and Life
Science at The Livingston Group, a specialty investment firm located in New
York, NY and Senior Vice President of Business Development at Charlesson
Pharmaceuticals. Previously he was the Senior Director at Pfizer Inc. Global
Research and Development, where he led the platform technology mission for the
clinical development and commercial division in areas including the medical
imaging, diagnostics computational medicine, knowledge management and
non-invasive measurement monitoring. He was also President and CEO of
Therametric Technology Inc. Prior to joining Pfizer, Dr. Analoui was the
Director of Oral and Maxillofacial Imaging Research at Indiana University where
he still serves as an adjunct faculty member, and Associate Professor of
Biomedical Engineering and Electrical & Comp Engineering at Purdue University.
He has also served on various scientific, regulatory, and business advisory
committees and boards. Dr. Analoui has authored over 130 publications, including
journal articles, book chapters, and technical reports. He currently serves as
board member of VirtualScopics (Nasdaq: VSCP), BPT Pharma, BEACON (Biomedical
Engineering Alliance and CONsortium), and NanoBusiness Alliance. Dr. Analoui
holds a Ph.D. in engineering from Purdue University.

About Calando Pharmaceuticals Inc.

Calando Pharmaceuticals Inc. (www.calandopharma.com), a majority-owned
subsidiary of Arrowhead Research Corporation (NASDAQ: ARWR), has developed
proprietary technologies to create targeted siRNA-based therapeutics and small
molecule nanoparticle drug conjugates.Calando's innovative Cyclosert and RONDEL
nanoparticle systems have been designed to solve the long-standing obstacle of
safe and effective delivery and targeting for oligonucleotide and small molecule
therapeutics.Calando has developed two clinical stage drug candidates for the
treatment of cancer.

About Arrowhead Research Corporation

Arrowhead Research Corporation (www.arrowheadresearch.com) (NASDAQ: ARWR) is a
nanotechnology company commercializing new technologies in the areas of life
sciences, electronics, and energy. Arrowhead is seeking to build value for
shareholders through the progress of majority owned subsidiaries. Currently,
Arrowhead has four subsidiaries commercializing nanotech products and
applications and minority investments in two privately held nanobiotech
companies.

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, the financial resources available to us, and general
economic conditions. For example, there can be no assurance that Arrowhead or
its subsidiaries will be able to sustain operations for expected periods, that
we will be able to achieve or sustain targeted levels of expense reductions or
that any of these entities will be successful in obtaining additional funding
needed to sustain operations.Arrowhead Research Corporation's most recent Annual
Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q discuss some
of the important risk factors that may affect our business, results of
operations and financial condition. We disclaim any intent to revise or update
publicly any forward-looking statements for any reason.

Investor Relations Contacts:
The Piacente Group, Inc.
Brandi Floberg, 212-481-2050
ir@arrowres.com

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