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Nanomanufacturing Center of Excellence To Use Microfluidizer(R) Chemical Reactor and Processor Systems As Production Platform
MFIC Corporation (Symbol OTCBB: MFIC) has signed a research and collaboration agreement with The University of Massachusetts Lowell (UML) to develop new applications, processes and products in the area of nanomaterials utilizing MFIC's leading-edge materials processing and chemical reactor equipment (the "Collaboration").
Microfluidics, the operating subsidiary of MFIC, will provide a Microfluidizer(R) Processor and the new-generation Microfluidizer(R) Multiple Stream Mixer/Reactor (MMR) lab system, to be located on the UML campus. The MMR is one of only two advanced, fully equipped systems of its kind in existence, having a current value of $350,000. With the processor valued at $100,000, plus the provision of technical and financial support to projects, the MFIC contribution is valued at more than $545,000.
Research will proceed under the direction of the Nanomanufacturing Center of Excellence (NCOE) at UML.
"We expect the Microfluidics equipment will become key manufacturing platforms for high throughput nanomanufacturing," says Prof. Julie Chen, director of the NCOE. "Researchers on campus and across industry sectors are interested in exploring nanoparticle production that is scalable from experimental quantities to production amounts, with consistency and stability."
Irwin Gruverman, CEO and Chairman of MFIC, stated "We welcome this opportunity to collaborate with the substantial formulation and engineering strengths at UML. Our Microfluidizer(R) Processor equipment and the technology embodied therein is well-proven in thousands of instances and hundreds of applications, many in nanomaterials-based uses. The MMR chemical reactors, while relatively new, have demonstrated their ability to perform continuous chemical reactions in varied applications which yield, with unparalleled precision, controlled size, purity, product uniformity and pharmacokinetic properties. These innovative systems can enable many UML projects to produce nanomaterials for, among others, pharmaceutical and nutraceutical formulations. We intend to take an active role in the selection and validation of specific Collaboration project targets as members of the Steering Committee that will guide the Collaboration."
MFIC and the University have ongoing research collaborations. UML faculty researchers have been using the Microfluidizer materials processing equipment for significant recent research. Prof. Robert Nicolosi, director of the Center for Health and Disease Research, who has used Microfluidics equipment in the development of nutraceuticals focusing on plant sterols, is developing compounds for medical applications; Prof. Carl Lawton, director of the Massachusetts Bioprocess Development Center, assists biotechnology companies in their process development.
The Microfluidizer Processor systems, use a "fixed geometry" interaction chamber to force liquid streams through microchannels at extremely high pressure and velocity, and then to collide them. The resultant collision and high shear yields nanoscale particles in stable dispersions or emulsions used in a wide variety of applications such as pharmaceuticals, ink-jet inks and coatings. In biotechnology, the processor is ideal for "cell disruption": puncturing cell membranes to isolate and harvest the desired protein products within while minimizing required post-disruption processing.
Microfluidics' patented Multiple Stream Chemical Reactor performs fast, continuous chemical reactions in an ultraturbulent environment. Rather than starting with a premixed formulation, as is the standard practice for the Microfluidizer Processor systems, researchers can introduce two or more streams of pure starting reactant materials to create nanostructures under total control and in production quantities. The technology achieves unprecedented control of nanostructure size and uniformity. Applications may include superconductors, drug reformulations, catalysts, photographic emulsions and making highly durable ceramics.
Under the agreement, UML and MFIC will work together to explore and develop applications and new products - using this breakthrough technology - that can move rapidly to commercialization. The Collaboration will benefit both parties through the arrangements for intellectual property, patent rights and licensing royalties.
About the University of Massachusetts Lowell:
The University of Massachusetts Lowell, a comprehensive university with special expertise in applied science and technology, is committed to educating students for lifelong success and conducting research and outreach activities that sustain the economic, environmental and social health of the region. UML offers its 11,000 undergraduate and graduate students more than 80 degree programs in the colleges of Arts and Sciences, Engineering, and Management; the School of Health and Environment, and the Graduate School of Education.
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About MFIC Corporation:
MFIC Corporation, through its Microfluidics subsidiary, provides patented and proprietary high performance Microfluidizer(R) materials processing equipment to the biotechnology, pharmaceutical, chemical, cosmetics/personal care, and food industries. MFIC applies its 20 years of high pressure processing experience to produce the most uniform and smallest liquid and suspended solid structures available, and has provided manufacturing systems for nanoparticle products for more than 15 years. The Company is a leader in advanced materials processing equipment for laboratory, pilot scale and manufacturing applications, offering innovative technology and comprehensive solutions for nanoparticles and other materials processing and production. More than 3,000 systems are in use and afford significant competitive and economic advantages to MFIC equipment customers.
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FORWARD LOOKING STATEMENT:
Management believes that this release contains forward-looking statements that are subject to certain risks and uncertainties including statements relating to the Company's prospective receipt of patents or royalty income, plan to attain and/or increase operating profitability and/or to achieve net profitability. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties that could cause actual results achieved by the Company to differ materially from those described in the forward-looking statements. The Company cautions investors that there can be no assurance that the actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including but not limited to the following risks and uncertainties: (i) whether any intellectual property or patents will be developed in the collaboration with University of Massachusetts Lowell, (ii) whether any licensing income or royalties will be received as a result of the collaboration with University of Massachusetts Lowell, (iii) whether the performance advantages of the Company's Microfluidizer(R) materials processing equipment or that a commercial market for the equipment will continue to develop, (iv) whether the performance advantages of the Company's MMR nanoparticle production systems will be realized commercially, (v) whether the Company will be able to increase its market penetration and market share, (vi) whether the timing of orders will significantly affect quarterly revenues and resulting net income results for particular quarters which may cause increased volatility in the Company's stock price, and (vii) whether the Company will have access to sufficient working capital through continued and improving cash flow from sales, proceeds from its private placement equity offering, and ongoing borrowing availability, the latter being subject to the Company's ability to comply with the covenants and terms of its loan agreement with its senior lender.
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