Arrowhead Research and Paragon Intellectual Properties announced today that Arrowhead’s majority-owned subsidiary, Unidym, has signed an exclusive license agreement with Paragon’s majority-owned subsidiary, Nanotech Catheter Solutions (NCS). The firms said NCS will use Unidym’s carbon nanotube technology in the development of medical devices for the treatment of cardiovascular disease.

Under the terms of the agreement, Unidym will receive a 20 percent equity stake in NCS, and the parties will negotiate a supply agreement or royalty.

Dr. Mark Bates, a cardiologist and CEO of Paragon, said that the firm is seeking to apply nanotechnology to interventional devices such as catheters and stents.