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NASDAQ Approves Arrowhead Research Corporation for Trading on SmallCap Market

PASADENA, Calif.--(BUSINESS WIRE)--Aug. 30, 2004--Arrowhead Research Corporation (OTCBB: ARWR), an emerging company in the field of nanotechnology, have announced that NASDAQ has approved the Company's common stock and common stock purchase warrants (ARWRW) for listing on the NASDAQ SmallCap Market(TM), subject to certain conditions. The Company expects its stock to begin trading on the SmallCap Market within the next ten trading days.

Commenting on the approval, R. Bruce Stewart, President of Arrowhead Research, said, "The move from the OTC to NASDAQ is an important step for us and our continuing development as a public company. We are pleased that we have met the stringent requirements for NASDAQ SmallCap listing and expect improved liquidity for Arrowhead's securities."

About Arrowhead Research Corporation

Arrowhead Research is a development-stage nanotechnology company optimally structured to bring together a diverse and innovative mix of technologies, rights to a broad suite of intellectual property, and some of the most respected minds in this dynamic field. There are three strategic components to Arrowhead's business model:

-- The formation or acquisition of subsidiary companies that are engaged in research and development in various stages, or are pursuing specific product and technology development in nanotechnology.
-- The funding of nanoscience research at universities in exchange for the right to commercialize resulting intellectual property.
-- The acquisition, license and sublicense of intellectual property in the field of nanotechnology.

Arrowhead Research Corporation
R. Bruce Stewart, 626-792-5549
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