[November 13, 2012]

Arrowhead Creates Hepatitis B Clinical Advisory Board and Names Dr. Robert Gish Chairman

Arrowhead Research Corporation (NASDAQ: ARWR), a targeted therapeutics company, announced today that prominent hepatologist Robert G. Gish, MD, will serve as Chairman of the company's newly created hepatitis B Clinical Advisory Board. In this leadership role, Dr. Gish will assist with recruitment of additional advisory board members and will advise the company on clinical and regulatory approval strategy in addition to analysis, and interpretation of clinical trial results for the HBV program and its associated lead candidate, ARC-520.

"Hepatitis B is a global problem that needs more effective treatment options," said Dr. Gish. "Arrowhead's clinical candidate, ARC-520 is a unique and potentially powerful approach to treating HBV and I'm excited to have the opportunity to contribute to this clinical program."

"Dr. Gish's international expertise in hepatitis B and his guidance on clinical trials both in the U.S. and in Asia are important to Arrowhead," said Dr. Chris Anzalone, President and CEO of Arrowhead. "We are honored to have somebody of his caliber chair our Clinical Advisory Board."

Dr. Gish joined the full time faculty at University of California, San Diego in December 2010 as Clinical Professor, Section Chief of Hepatology, and Medical Director for the Center of Excellence for Hepatobiliary Disease and Abdominal Transplantation (CHAT). Since that date, research efforts have expanded to include Point of Care testing, public policy for viral hepatitis, collaboration with co-investigators to study NASH, metabolism of intralipid infusions and clinical trials for HCV and HBV.

He was the Co-Medical Director at the California Pacific Medical Center in San Francisco and became the Medical Director of the Liver Transplant Program in 1995. He was a faculty member at the University of California, Davis from 1991-1994 and was als part of the faculty at the Merced Family Practice Program (UCD affiliate) from 1991 to 1999. Dr. Gish rose to the rank of a Clinical Professor position at the University of California, San Francisco in 2009 and a Clinical Professor position at the University of Nevada, Reno and Las Vegas in 2006.

In addition to leading a hepatology practice serving over 35,000 patients in the Northern California and Nevada regions, Dr. Gish is actively involved in numerous professional societies, including the American Association for the Advancement of Science and the American Society of Transplant Physicians. He is a fellow of both the American College of Physicians and the American Association for the Study of Liver Disease.

Dr. Gish received his MD degree from University of Kansas Medical School in 1980. He completed a residency in Internal Medicine at UCSD and a fellowship in Gastroenterology and Hepatology at UCLA. He is board certified in Internal Medicine and Gastroenterology and has the advance Certificate of Added Qualification (CAQ) in Liver Transplantation and is a UNOS certified Liver Transplant Physician. He has published more than 500 original articles, review articles, abstracts and book chapters.

About Arrowhead Research Corporation

Arrowhead Research Corporation is a clinical stage targeted therapeutics company with development programs in oncology, obesity, and chronic hepatitis B virus infection. The company is leveraging its platform technologies to design and develop peptide-drug conjugates (PDCs) that specifically home to cell types of interest while sparing off-target tissues, create targeted drugs based on the gene silencing RNA interference (RNAi) mechanism, and work with partners to create improved versions of traditional small molecule drugs.

For more information please visit http://www.arrowheadresearch.com, or follow us on Twitter (News - Alert) @ArrowRes. To be added to the Company's email list to receive news directly, please send an email to ir@arrowres.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act:

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 our ability to finance our operations, the future success of our scientific studies, our ability to successfully develop drug candidates, the timing for starting and completing clinical trials, rapid technological change in our markets, and the enforcement of our intellectual property rights. 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 assume no obligation to update or revise forward-looking statements to reflect new events or circumstances.

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