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NanoSensors, Inc. (OTC Bulletin Board: NNSR.OB), a nanotechnology development company
that develops instruments and sensors to detect malicious agents in food
and water, announced today that it has completed a preliminary market
assessment of the Company's biosensensor that detects e-coli in food and
As the Company has previously discussed, its biosensor product consists
of two core functional parts. First, the product design incorporates a
disposable housing unit in which the actual sensor device is mounted on a
secured and sealed platform, and a separate, external data acquisition
unit. The Company's business model for this product will utilize the "Razor
/ Razor Blade" model. The disposable housing unit, which holds the "test
strips" that will detect the targeted bacterium, will function as the razor
blade while the data acquisition unit, which can be either a desktop
computer or a portable PDA-sized unit, is equivalent to the razor.
The two major market segments for the Company's biosensor product is
the detection of food-borne e-coli and the water-borne e-coli. According to
the Center for Disease Control ("CDC"), 85% of e-coli infections are food
borne in origin. In addition, the CDC estimates that for every
laboratory-confirmed infection, another 4-8 symptomatic cases are likely
missed by current surveillance systems, which means the true economic costs
of e.coli infections alone could be as high as $3.24 billion. The United
States Department of Agriculture estimated the minimum annual cost of
e.coli illnesses in 2005 to be $430 million, including $392 million for
premature death, $33 million for medical care, and $5 million in lost
Two major e.coli outbreaks in 2006 involving tainted produce served at
Taco Bell restaurants, and the other involving washed-and-bagged spinach
from Natural Selection Foods collectively caused deaths and hundreds of
illnesses across 19 states. These outbreaks validated both the Company's
strategy and the need to protect the American Consumer.
Based on the Company's research it will focus its attention on how to
best position its biosensor product so that it will gain acceptance in the
food market, with an emphasis on the fast-food industry. The top 60
restaurant chains have more than 130,000 locations. The "Big Five" --
McDonalds, Subway, KFC, Burger King, and Pizza Hut account for 92,000 of
Geographically, the Company plans to focus on states with the highest
incident rates of food-borne disease outbreaks. According to information
from the CDC, states with the highest incident rates were: Florida (224),
California (208), Illinois (91), Maryland (63), Michigan (60), and Ohio
The Company's product development roadmap is directed toward the
detection of other bacteria such as salmonella and others, which are
identified by CDC as harmful to the American Consumer. On average
Salmonella sickens 40,000 and kills 600 people a year in the United States.
The United States Department of Agriculture estimated the minimum annual
cost of illness caused by salmonella bacteria in 2005 to be $2.3 billion,
including $2.1 billion for premature death, $181 million for medical care,
and $89 million in lost productivity.
Dr. Ted Wong, NanoSensors' Chief Executive Officer, stated, "The
completed marketing assessment is extremely valuable to the Company in
identifying and quantifying the market opportunities for our biosensor
product. This will enable us to focus our product development to address
the key issues associated with the fast food industry."
About NanoSensors, Inc.
NanoSensors, Inc. was incorporated in December 2003 and is a
nanotechnology development company based in Santa Clara, California. The
Company's principal business is the development, manufacturing and
marketing of sensors and instruments to detect explosive (X), chemical (C)
and biological (B) agents ("XCB"), along with the management of
intellectual property derived there from that will enable NanoSensors to
create nanoscale devices.
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and are
subject to the safe harbors created thereby. These forward-looking
statements involve known and unknown risks, uncertainties and other facts
that could cause the actual future results of the Company to be materially
different from such forward looking statements. These forward-looking
statements are made only as of the date hereof, and we disclaim any
obligation to update or revise the information contained in any such
forward-looking statements, whether as a result of new information, future
events or otherwise.
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