Arrowhead Research is a development-stage holding company with several subsidiaries focused on developing and commercializing nanotechnologies. Its Agonn Systems unit is developing nanotechnology-based storage devices used for hybrid electric vehicles, while Unidym focuses on the commercialization of carbon nanotube-based (sphere-like molecules that can transfer electricity, heat, and other forms of energy) properties. In addition, Calando Pharmaceuticals develops and commercializes therapeutics. Arrowhead has also funded nanoscience research at universities (including the California Institute of Technology and Duke University) in exchange for the right to commercialize the resulting intellectual property.