Monday, December 3, 2007

Arrowhead Research Names CEO, Looks To Buy Nanotech Firm

Pasadena-based Arrowhead Research said this morning that it has appointed a new President and CEO, Dr. Christopher Anzalone, in conjunction with a deal to buy Benet Group LLC. Benet Group LLC is a private equity firm focused on nanotechnology, and which is also headed by Anzalone. Financial terms of the deal were not disclosed. Arrowhead said that its founder and former CEO, R. Bruce Stewart, remains as Executive Chairman of its board of directors. Arrowhead said that the acquisition of Benet Group will give it stakes in Nanotope and Leonardo Biosystems, as well as another nanotechnology company in formation.

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