Arrowhead Research Names Chief Executive

By Associated Press
December 3, 2007 | Comments (0)

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Nanotechnology developer Arrowhead Research Corp. said Monday it appointed Christopher Anzalone president and chief executive and plans to buy the private-equity group he founded.

The company said Anzalone was also named to the company's board of directors. Anzalone began in the post Dec. 1.

Arrowhead said former CEO, R. Bruce Stewart, will continue as executive chairman.

The appointment comes as Arrowhead begins the process of buying Benet Group LLC, a private equity firm founded and led by Anzalone, the company said.

Anzalone was previously CEO of Benet, which was formed to buy and start new nanobiotechnology companies, Arrowhead said.

Arrowhead said Benet has investments in tissue regeneration company Nanotope Inc. and cancer drug delivery company Leonardo Biosystems.

Arrowhead said the Benet acquisition includes those equity positions as well as a third company now being formed.

Financial terms of the deal were not disclosed.

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