Pharmacopeia Announces Positive Results from Initial DARA Clinical Trial

Pharmacopeia (NASDAQ: PCOP), an innovator in the discovery and development of novel small molecule therapeutics, today announced positive results from the initial Phase 1 clinical trial of PS433540, the company’s lead internal product candidate for the treatment of hypertension and diabetic nephropathy. Data from the single ascending dose (SAD) study indicated that PS433540 was well tolerated at all six doses administered. In addition, study findings suggested that the compound possesses linear pharmacokinetics and a half-life that is consistent with once daily administration.

PS433540 is the first and only dual-acting angiotensin and endothelin receptor antagonist (DARA) in development. The compound, which possesses two clinically validated mechanisms of action in a single molecule, works by selectively blocking the action of two potent vasoconstrictor and mitogenic agents, angiotensin II (AII) and endothelin 1 (ET1), at their respective receptors. PS433540 is highly selective (10,000-fold) for the AII receptor sub-type 1 and the ET receptor sub-type A. As such, PS433540 combines the properties of an angiotensin receptor blocker (ARB) and an endothelin receptor antagonist (ERA) in the same molecule. Preclinical data suggests that, compared to either mechanism alone, simultaneously blocking the actions of both AII and ET1 may provide improved treatment options for several cardiovascular diseases.

“By showing that PS433540 is well tolerated over a broad range of doses while also possessing characteristics consistent with once-a-day dosing, we have taken an important initial step in the development of this first-in-class compound,” said Rene Belder, M.D., Pharmacopeia’s Vice President of Clinical and Regulatory Affairs. “Based on these findings, we are moving forward with our clinical development of DARA in an effort to complete the overall Phase 1 program in a timely fashion.”

The objective of this randomized, placebo-controlled, dose-escalation study was to evaluate the compound’s preliminary safety and tolerability by treating six separate groups of healthy volunteers. Each group consisted of eight subjects, with six individuals receiving the active DARA compound and two receiving placebo. PS433540 doses administered to the study groups ranged from 20 mg to 1000 mg and were increased for each successive group. In addition to safety and tolerability, dose-related pharmacokinetics were also evaluated.

Pharmacopeia’s Phase 1 program for PS433540 is comprised of multiple studies. In addition to the recently completed SAD trial, other planned studies include a multiple ascending dose (MAD) study to further evaluate safety after repeated administration of PS433540 over 14 days, as well as an angiotensin challenge study and an endothelin challenge study to demonstrate PS433540’s dual pharmacology. Pharmacopeia expects the entire Phase 1 program to be complete in late 2007 with a Phase 2 trial beginning in the first half of 2008.

ABOUT PHARMACOPEIA
Pharmacopeia is committed to discovering and developing novel therapeutics to address significant medical needs. The Company has a broad portfolio advancing toward clinical validation, both independently and with partners. Pharmacopeia's most advanced internal program is a dual-acting angiotensin and endothelin receptor antagonist (DARA) for hypertension and diabetic kidney disease for which Phase 1 clinical trials are underway. Other internal proprietary programs address primarily immunoregulation. Pharmacopeia's collaborative efforts have resulted in a portfolio that includes one partnered program currently in Phase 2 clinical trials targeting chronic obstructive pulmonary disease (COPD) and four partnered programs in Phase 1 clinical trials targeting rheumatoid arthritis, oncology, metabolic diseases and inflammatory diseases. Three additional partnered compounds are in preclinical development. Pharmacopeia's current strategic partnerships are with Cephalon, GlaxoSmithKline, Organon and Wyeth.

Arrowhead To Form New Nanomedicine Subsidiary And Acquire Nanotherapeutics Company, C Sixty, Inc.

Arrowhead Research Corporation (NASDAQ: ARWR) announced today that it has formed a new wholly-owned subsidiary and has agreed to acquire the assets, as well as the name, of C Sixty, Inc. (C-60), a company pioneering the development of new drugs based on buckministerfullerenes (also known as fullerenes or buckyballs).

The new subsidary joins Arrowhead as its third focused on nanomedicine. Arrowhead operates two other majority owned subsidiaries commercializing nanotherapeutics. Calando Pharmaceuticals is a leading RNAi company specializing in the design and delivery of siRNA therapeutics. Insert Therapeutics is commercializing drug-delivery-enhanced small-molecule therapeutics and nucleic acids. Insert’s first anti-cancer drug candidate is in Phase I clinical trials.

“The future of medicine lies in targeted delivery of therapeutics through nanotechnology,” said R. Bruce Stewart, Arrowhead’s Chairman. “Our experience and expertise in this area makes C-60 a great strategic complement to our other majority owned subsidiaries.”

Fullerenes are a highly structured, water soluble, nanoscale form of carbon, similar to carbon nanotubes, discovered by Richard Smalley, who received the Nobel Prize for his work in this area. Roughly one nanometer in diameter, the molecules are composed of 60 carbon atoms and have the symmetry of soccer balls. The spherical shape, hollow interior, and 60 carbon atoms of the molecule allow drug designers the opportunity to attach therapeutic and targeting chemical groups in many configurations.

C Sixty, Inc. has secured and developed a strong patent position covering the strategic biomedical uses of fullerenes. Initially, C-60 will focus on the antioxidant activity of fullerenes. Arrowhead believes that drugs based on fullerene antioxidant molecules may have significant impact on several unsolved diseases, including Parkinson’s disease, Alzheimer’s, stroke, atherosclerosis, complications from diabetes and protection of bone marrow cells from cancer chemotherapy and radiotherapy. Solutions for any of these diseases could represent billion dollar annual market opportunities.



About Arrowhead Research Corporation

Arrowhead Research Corporation (www.arrowheadresearch.com ) is a publicly-traded nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is building value for shareholders through the progress of majority owned subsidiaries founded on nanotechnologies originally developed at universities. The company works closely with universities to source early stage deals and to generate rights to intellectual property covering promising new nanotechnologies. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications, including anti-cancer drugs, RNAi therapeutics, carbon-based electronics and compound semiconductor materials.

Arrowhead Subsidiary, Unidym, To Merge With Carbon Nanotechnologies, Inc.

Arrowhead Research Corporation (NASDAQ: ARWR) announced today that its majority-owned subsidiary, Unidym, Inc., has entered into a definitive agreement to merge with Carbon Nanotechnologies, Inc. (“CNI”). The transaction is expected to close in early April. The combined company, which will operate under the Unidym name, will have the dominant portfolio of carbon nanotube-related patents and be positioned as a leader in bringing carbon nanotube-based products to market.

“CNI is the largest manufacturer of carbon nanotubes in the world and has hundreds of customers, in addition to partnerships and licensing arrangements with companies like Motorola, Sumitomo, IBM, DuPont, and Johnson Matthey,” said R. Bruce Stewart, Arrowhead’s Chairman. “We believe this deal is transformational for the industry and will enable more rapid commercialization of products incorporating nanotubes since so much of the intellectual property can now be licensed from one company.”

CNI was founded in 2000 by the late Rice University professor Richard Smalley who received the Nobel Prize for his work in carbon nanotubes. His pioneering work led to a suite of patents that covers technologies being used today to develop nanotube-based products. CNI has more than 100 patents (including 54 issued U.S. patents) and patent applications covering compositions of matter, methods of manufacturing, processing and products incorporating carbon nanotubes, with over 5000 claims in various stages of prosecution.

“We chose Unidym as our partner because Unidym has the most advanced carbon nanotube-based electronic products with billion dollar market potential, as well as an impressive carbon nanotube patent portfolio of its own,” said Bob Gower, CEO of Carbon Nanotechnologies, Inc.

Unidym, founded by distinguished UCLA professor Dr. George Gruner, 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.

“Unidym now has critical mass,” stated Sean Olson, President of Unidym. “Unidym will use its expansive patent portfolio to protect its first three products – transparent electrodes, fuel cell electrodes, and thin film transistors – and to immediately pursue licensing opportunities for a range of other nanotube-based products such as targeted therapeutics, medical devices, field emission displays, batteries, sporting goods and composite materials.”

Upon closing, Arrowhead will retain majority-ownership of Unidym. Under the terms of the definitive agreement, all outstanding shares of capital stock of CNI will be converted into shares of Series A Preferred Stock of Unidym. In connection with the merger, Arrowhead will exchange $5.4 million worth of Arrowhead common stock for Series E preferred stock in CNI prior to the closing of the merger. In addition, Arrowhead is transferring to Unidym the rights and obligations of its research agreement with Duke University and the University of Florida and Arrowhead will accelerate $4 million of future capital contributions to Unidym on the closing date.



About Arrowhead Research Corporation

Arrowhead Research Corporation (www.arrowheadresearch.com ) is a publicly-traded nanotechnology company commercializing new technologies in the areas of life sciences, electronics, and energy. Arrowhead is building value for shareholders through the progress of majority owned subsidiaries founded on nanotechnologies originally developed at universities. The company works closely with universities to source early stage deals and to generate rights to intellectual property covering promising new nanotechnologies. Currently, Arrowhead has four subsidiaries commercializing nanotech products and applications, including anti-cancer drugs, RNAi therapeutics, carbon-based electronics and compound semiconductor materials.

About Unidym

Unidym, Inc. is developing low-cost, carbon-based materials, processes, and devices for the electronics industry. The Company’s initial product is a thin, transparent film of carbon nanotubes that replaces the expensive, failure-prone materials currently employed by manufacturers of devices such as touch screens, flat panel displays, and solid state lighting. Unidym is also developing novel carbon nanotube-based transistors and conductive inks for the printable electronics industry to replace today’s complex and capital intensive semiconductor manufacturing processes with inexpensive, solution-based printing processes. Unidym differentiates itself through its emphasis on low-cost materials and processes, in-house carbon nanotube production, aggressive partnership strategy, and significant intellectual property portfolio that includes foundational IP in both of its initial applications.

About Carbon Nanotechnologies, Inc.

CNI has more than 100 patents and patent applications with a total of about 5000 claims in various stages of prosecution. The portfolio of 100 patents and applications includes about 850 composition of matter claims. CNI has several pilot plants to produce single-wall and other small-diameter carbon nanotubes in operation at its location in west Houston.

IBM Announces Production of Cell Chip at 65nm

IBM (NYSE: IBM) announced today that the company has begun producing a new, 65 nanometer (nm) version of the Cell Broadband Engine at IBM's state-of-the-art East Fishkill, New York microchip production facility.

The revolutionary Cell chip, jointly developed by IBM, Sony Group and Toshiba, is effectively a supercomputer-on-a-chip, providing breakthrough performance for consumer electronics, medical imaging, design engineering and other graphics-intensive applications. In addition to serving as the digital heartbeat of Sony Computer Entertainment’s PLAYSTATION®3, the chip also appears in IBM’s BladeCenter servers.

A team of computer scientists from IBM, Sony Group and Toshiba has collaborated on the development of the Cell microprocessor at a joint design center established in Austin, Texas, since March 2001.

About IBM
For more information about IBM microchip technologies, please visit http://www.ibm.com/chips

Harris & Harris Group Notes Xradia Financing Closing

Shareholders of Harris & Harris Group, Inc (NASD: TINY), might interested to note that Xradia, Inc., has announced the closing of its $7.0 million Series D financing round.
Harris & Harris Group invested $4 million in this round of financing.

Xradia designs, manufactures and sells a suite of ultra high resolution 3D x-ray microscopes and fluorescence imaging systems capable of nondestructive imaging of internal structures at micrometer and nanometer scale.

GE Scientists Discover that Nanostructures on the Surface of Butterfly Wings Exhibit Acute Chemical Sensing Capabilities

GE Global Research, the centralized research organization of the General Electric Company (NYSE: GE), today announced researchers have discovered that the nanostructures on the wing scales of butterflies exhibit high-performance optical properties that facilitate a selective detection of vapors. The finding could lead to the design of highly acute chemical sensors for diverse vapor-detection applications ranging from security to manufacturing and healthcare.

GE’s research team, led by Dr. Radislav Potyrailo, an analytical chemist in the Chemical and Biological Sensing Laboratory at Global Research’s headquarters in Niskayuna, reported its discovery in the latest issue of the journal, Nature Photonics. The article is this month’s featured cover story and can be accessed at the following link: http://www.nature.com/nphoton/index.html

Dr. Potyrailo said, “Nano-scale features created by nature are providing countless discoveries and stimulate our research into new, exciting technological areas. We have found that nanostructures on the wing scales of tropical Morpho butterflies exhibit optical properties that provide a highly selective response to chemical vapors. The challenge now is finding a way to mimic nature and to design acute and robust chemical sensors that will offer new attractive sensing solutions in the marketplace. That is what we are focused on solving.”

Dr. Potyrailo cited a review article that appeared in the journal Nature in 2003 by Pete Vukusic and J. Roy Sambles, titled “Photonic structures in biology,” which inspired his research on the wing scales of butterflies for vapor detection. The article discussed the nano-scale photonic structures in butterfly wings and the blue iridescence that they produced. “After initial careful experiments, it was clear that the underlying optical properties exhibited by the nanostructures on butterfly wings could offer a promising route to highly selective chemical sensing capabilities,” Dr. Potyrailo said.

Dr. Potyrailo assembled a research team that explored further the origin and details of this unique selective vapor response of butterfly wing scales. The team included Professor Helen Ghiradella from the Department of Biological Sciences, University at Albany; and Alexei Vertiatchikh, Katharine Dovidenko, Eric Olson, and James Cournoyer from GE Global Research.

Dr. Potyrailo noted that fabricating the photonic nanostructures found in butterfly wings will be very challenging, but commercial applications could reach the market within the next five years. The discovery is one in a growing list of breakthroughs that GE researchers have made in the field of nanotechnology:

For chemical and biological sensing, GE scientists in the Research Center’s Chemical and Biological Sensing, Nanotechnology, and Microstructural and Surface Sciences Labs have developed a suite of nanocomposite and nanostructured materials. These materials utilize multisize semiconductor nanocrystals in polymer films and core/shell colloidal crystal films to create selective gas nanosensors, highly stable tags for surface-enhanced Raman biosensing and bioassays, and nanostructured metal films for improved label-free biosensing.
In 2005, GE Global Research announced the development of an ideal carbon nanotube diode that operates at the “theoretical limit,” or best possible performance, which will enable smaller and faster electronic devices with increased functionality.
In another example of biomimicry, within the past two years, GE scientists in the Research Center’s Nanotechnology Lab have been able to replicate the super-water repellant effect of the Lotus leaf on both plastic and metal. The super water-repellant effect exhibits a self-cleaning feature of washing dirt and particles from the surface of a material when a water-based liquid hits it. GE scientists are exploring potential applications in aviation and energy, where self-cleaning parts could greatly enhance the efficiency of such products as a gas turbine or aircraft engine.
In the January 2007 issue of the journal, Nature Nanotechnology, scientists in GE’s Nanotechnology Lab reported on a promising breakthrough in nanotechnology they made that provides a direct pathway to making nanoceramic materials from polymeric precursors. Developing processes and a greater understanding of nano-engineered ceramics could lead to future applications in aviation and energy, where products such as aircraft engines and gas turbines could one day achieve new levels of efficiency, reliability and environmental performance.


About GE Global Research:

GE Global Research was the first industrial research lab in the United States and is one of the world's most diversified research centers, providing innovative technology for all of GE's businesses. Global Research has been the cornerstone of GE technology for more than 100 years, developing breakthrough innovations in areas such as medical imaging, energy generation technology, jet engines, advanced materials and lighting. GE Global Research is headquartered in Niskayuna, New York and has facilities in Bangalore, India; Shanghai, China; and Munich, Germany. Visit GE Global Research at www.ge.com/research

Industrial Nanotech, Inc. completing final stages of audit process

Industrial Nanotech (OTC: INTK.PK - News), developers of revolutionary products that incorporate the science of nanotechnology, today announced that it is completing the final stages of its audit process.

J.R. Lampson, hired as VP of Finance for Industrial Nanotech, Inc. in November of 2006 states, "Our team of CPA's has worked closely with us to conduct a thorough, detailed, and exhaustive analysis of our Company financials since inception in 2004, to review and revise as necessary all policies and procedures relating to Company operations worldwide, and to draft the Financial Procedures Manual and other documents required by our auditors and the regulatory agencies of stock exchanges which our Company considers an important objective."


Stuart Burchill, CEO of Industrial Nanotech, Inc continues, "The facts about our Company are solid. We have a respectable and healthy rate of revenue growth since inception. We have, and have communicated to the investing public through press releases, very large projects and substantial potential revenue sources in the pipeline and at a mature stage of development. We continue to invent new and important technologies and product lines and file patent applications to protect our intellectual property. Our expansion worldwide is striding forward country by country and we have an established record of entering markets, establishing credibility in those markets, and increasing the revenue from those markets."

"This relentless work ethic and the successes it is generating make it a priority for us to position the Company to be able to reach a broader audience of potential shareholders, brokerage firms, and institutional investors," states Mr. Burchill. "Completion of the work by Mr. Lampson, our new VP of Finance with decades of experience at the highest levels of financial operations of major international corporations, combined with the substantial resources and expertise of our accounting firm, puts us in the position to move forward towards that objective in a timely manner."

Organon and Pharmacopeia enter into discovery, development and commercialization alliance

Pharmacopeia (Nasdaq: PCOP), an innovator in the discovery and development of novel small molecule therapeutics, and Organon, the human healthcare business unit of Akzo Nobel (Nasdaq: AKZOY), today announced that they have entered into a new alliance to discover, develop and commercialize therapeutic products across a broad range of therapeutic indications, including neuroscience and immunology. This alliance builds on over ten years of collaborative work between Pharmacopeia and Organon. Under the terms of the alliance agreement, Pharmacopeia will receive an up-front payment of $15 million and additional payments in research funding over the five-year term of the research portion of the alliance.


Under the agreement, both Organon and Pharmacopeia will work collaboratively to generate development compounds addressing targets of mutual interest by taking advantage of the complementary discovery skills and expertise of each company. The goal is to produce compounds ready to enter development which will be primarily handled by Organon. The agreement provides Pharmacopeia the option to co-develop and co-commercialize therapeutic candidates discovered through the alliance.

For therapeutic candidates that Pharmacopeia does not elect to co-develop and co-commercialize, Organon will retain exclusive development and commercialization rights and Pharmacopeia will receive milestone payments as a result of Organon's successful advancement, if any, of each candidate through clinical development, and up to double-digit royalties based on commercialization of any resulting pharmaceutical products.

"Organon has always been, and will continue to be, committed to the creation of long-term value for patients by investing today in the discovery and development of the medicines of tomorrow," says David Nicholson, executive vice president Research and Development of Organon. "Our new alliance with Pharmacopeia provides Organon with access to industry-leading small molecule discovery capability, and with Pharmacopeia's evolution into a therapeutic products business, enables Organon to continue to build its clinical pipeline with a valued, long-term partner."

"This new alliance, and the option we retain to co-develop and co- commercialize products, is consistent with our strategy of retaining a significant share of the ownership of programs on which we work," said Les

Browne, Ph.D., President and Chief Executive Officer of Pharmacopeia. "We recently submitted the IND for our internal DARA program, and partnering with leading players in our industry such as Organon enables us to balance the investment and reward of drug development and thereby optimize returns for Pharmacopeia's shareholders."