- About Us
- Career Center
- Nano-Social Network
- Nano Consulting
- My Account
NanoSensors, Inc. (OTC: NNSR) (BULLETIN BOARD: NNSR) , a nanotechnology development company that is developing a biosensor device to detect e.coli and salmonella announced today an update regarding its product development timeline for its biosensor. The Company stated that although it had received multiple prototypes of its e.coli biosensor for field testing from its contract manufacturer, due to its limited personnel and financial resources, it has not yet been able to commence field testing the prototype of its biosensor product as it had previously expected.
Although the Company continues to review multiple alternatives in order to strengthen its internal resources, the Company has determined to also explore entering into strategic relationships with a third party in order to facilitate the testing and commercialization of its biosensor product. In order to maximize its ability to pursue bringing a biosensor device to market, the Company will evaluate potential relationships with a range of third parties, including public and private corporations, non-profit organizations, academic institutions and government entities. In this regard, the Company stated that it is focused on partnering with an entity that has experience manufacturing, marketing and selling systems for testing in the clinical molecular diagnostics, industrial and bio-threat markets.
"We have decided to explore these alternatives due to our limited personnel and financial resources," stated Dr. Ted Wong, the Company's Chief Executive Officer. "While we will continue to explore means of furthering the development of our biosensor internally, we cannot foreclose the potential benefits that allying our company with a third party could bring. By working with another entity with greater financial and other resources than we have, we believe that we can significantly reduce the amount of time until we can commercialize our proposed biosensor and begin to generate revenues from our biosensor product. This will also allow us to conserve our resources and minimize our overhead expenses," continued Dr. Ted Wong.
"We continue to feel that the need for a product to detect for e.coli and salmonella in food and water is real and growing as has been evidenced by the three major e.coli outbreaks in 2006 and 2007: one involving tainted produce served at Taco Bell restaurants, the second involving washed-and-bagged spinach from Natural Selection Foods, (collectively these two incidents caused deaths and hundreds of illnesses across 19 states). The third and most recent outbreak involved the United Food Group recalling 5.7 million pounds (2,850 tons) of ground beef that sickened 14 people," Dr. Wong added.
The Center for Disease Control estimates that there are 76 million cases of food poisoning a year resulting in 325,000 hospitalizations and 5,000 deaths. Food poisoning is caused by food-borne pathogens such as bacillus cereus, campylobacter jejuni, e.coli and streptococcus. The Company' research indicates that there is not a product out on the market that is easy to use and provides timely results. The current process to detect for e.coli is through a bio-chemical method and colony counts to determine the level of contamination and takes up to four days. No assurances can be given that the Company will be able to locate a third party with which to pursue the commercialization of its biosensor, that any negotiations with a third party will result in the consummation of a strategic transaction or that the anticipated benefits of a strategic transaction will ultimately be realized.
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 biological, chemical and explosive agents, principally a sensor device to detect e.coli and salmonella in food and water.
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.
For more information, please click here
1800 Wyatt Drive, Suite #2
Santa Clara , CA 95054
Copyright © PR Newswire Association LLC.If you have a comment, please Contact us.
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
|Related News Press|
Crystal clear: Thousand-fold fluorescence enhancement in an all-polymer thin film: Griffith University researchers report breakthrough due to novel and multi-layer Colloidal Photonic Crystal structure October 2nd, 2015
Sniffing out cancer with improved 'electronic nose' sensors October 2nd, 2015
Purdue launching new quantum center during workshop October 8th, 2015
Newly discovered 'design rule' brings nature-inspired nanostructures one step closer: Computer sims and microscopy research at Berkeley Lab yield first atomic-resolution structure of a peptoid nanosheet October 8th, 2015
Discovery about new battery overturns decades of false assumptions October 7th, 2015
Porous Nanosorbent Increase Efficiency of Engine Oil Recycling September 16th, 2015
Nano in food and agriculture: Regulations require collaboration to ensure safety September 14th, 2015
Nanotech could rid cattle of ticks, with less collateral damage September 1st, 2015
Omni Nano and Time Warner Cable Partner to Provide Nanotechnology Education to the Boys & Girls Clubs of Los Angeles: A $10,000 Donation to Benefit Youth of Los Angeles County's Boys & Girls Clubs August 4th, 2015
Kalam: versatility personified August 1st, 2015