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MFIC Corporation (OTCBB: MFIC), an industry-leader in high-shear processing equipment to produce the most uniform and smallest liquid and solid particles available for the biotech, pharmaceutical, chemical, personal care and food industries announced today that its wholly owned subsidiary, Microfluidics, has been named a technology category winner in the third annual Nanotech Briefs® Nano 50™ Awards. Microfluidics received the award for its revolutionary new Microfluidics Reaction Technology (MRT)—a next-generation approach in the production of nanosuspensions to help pharmaceutical and biotechnology companies develop and ultimately manufacture difficult to formulate drugs.
The Nano 50 recognizes the top 50 technologies, products, and innovators that have significantly impacted, or are expected to impact, the state-of-the-art in nanotechnology. The recipients of the Nano 50 awards comprise the innovative people and designs that will move nanotechnology to key mainstream markets. Nano 50 nominations were judged by a panel of nanotechnology experts.
"The advent of MRT could potentially unlock drugs, vaccines and drug delivery systems that to date could not be formulated," said Dr. Thomai Panagiotou, Vice President of Research and Development at Microfluidics and head of the Company's MRT program. "MRT provides a critical advancement in the field of drug formulation and positions MFIC as a clear technology leader. We anticipate introducing a new line of equipment to facilitate the MRT process late in the fourth quarter of this year or early in the first quarter of 2008, providing our customers with an additional effective and efficient solution for the creation of promising, new therapeutics."
About Microfluidics Reaction Technology (MRT):
MRT enables the manufacture of nanosuspensions in a "bottom up" fashion, utilizing chemical reactions and physical processes like crystallization. It has been proven effective for a variety of drugs using solvent and anti-solvent crystallization. This approach allows for a greater ability to control the growth rates of nanoparticles to produce uniform, optimally-sized nanoparticles in a more efficient, cost-effective manner. Conventional "top down" processes can reduce particle sizes, often to the nano-level, through a process of wet-milling, homogenization, micronization, and other techniques. However, there is an absolute limit as to how small top-down processes can reduce particle sizes and it often requires considerable effort, energy and repetitive processing cycles to achieve these levels of reduction.
MRT works by pumping liquid reactants to a Microfluidizer® processor reaction chamber, which is based on impinging jet principals. The system provides precise control of the feed rate and mixing location and has been demonstrated to be more effective in producing nanosuspensions than standard, top-down particle size reducing methods. This process is exceptional for a broad range of applications that require either fast or slow chemical reactions.
About MFIC Corporation
MFIC Corporation, through its Microfluidics Division, designs, manufactures and distributes patented and proprietary high performance Microfluidizer® materials processing and formulation 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 particles 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.
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 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 the performance advantages of the Company’s Microfluidizer® materials processing equipment will be realized commercially or that a commercial market for the equipment will continue to develop, (ii) whether the performance advantages of the Company’s MMR and MRT nanoparticle production systems will be realized commercially, (iii) whether the Company will be able to increase its market penetration and market share, (iv) 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 (v) whether the Company will have access to sufficient working capital through continued and improving cash flow from sales, 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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Jack M. Swig, 617-969-5452
MacDougall Biomedical Communications
Sarah Cavanaugh, 508-647-0209
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