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Applied Nanoscience Inc. (ANI) (PINKSHEETS: APNN) and Emergency Filtration Products, Inc. (EFP) (PINKSHEETS: EMFP) today issued the following progress report:
ANI recently announced that it had achieved highly successful test results for its proprietary silver nanoparticle formulation against methicillin resistant Staphylococcus aureus, or MRSA. The challenge produced a > 99.99% reduction (4+log) in two minutes when coated on filter media and directly introducing the challenge organism. Separately, ANI and EFP also recently announced that they completed another successful round of testing against the avian influenza strain H9N2. The test, which was designed to assess the efficacy of ANI's nanoparticle formulation when applied on filter media in a production environment, completely inactivated the strain in two minutes. Testing against MRSA and avian influenza strain H9N2 was conducted at a well-known independent BSL-3 laboratory.
EFP plans to complete a series of tests necessary to the information required to support its 510k submission to the FDA for the NanoMask. They include accelerated aging, with follow-on efficacy testing, which ascertains the product's ability to kill pathogens after a prolonged period of time. This will help determine the NanoMask's accurate shelf life for inventory purposes. EFP has already conducted a number of biocompatibility tests and has scheduled further testing, which address the safety of silver nanoparticles. All biocompatibility testing to support the 510k submission is expected to be completed in advance of the shelf life test. In August 2007, a scientific paper (whose principal investigator is affiliated with Samsung Corporation) was published which reported on the findings of study whereby rats were exposed to silver nanoparticles for 6 hours per day, 5 days a week for a 4 week period. The animals did not appear to have any significant health effects as a result of the exposure.
Other testing expected to be completed prior to completion of the accelerated aging test are leaching tests, which ensure that the silver nanoparticle formulation does not separate from the filter media. The company expects to receive a Safety Assessment Report by early December 2007 on any potential physiological impact of the NanoMask. This report, which is being prepared by independent nanotechnology experts, will be submitted in conjunction with the laboratory reports on the testing that is currently underway.
As previously announced, EFP and Applied Nanoscience Inc. have proposed a merger between the two companies. In order to move forward with the merger expeditiously, EFP is required to bring its Securities and Exchange Commission (SEC) filings (10KSB, 10QSBs) up to date. EFP's auditors have advised that they are in the final rounds of completing the 10KSB for the period ended December 31, 2006. Following the receipt of that document, which will be promptly filed with the SEC, EFP anticipates filing the 10QSBs for each of the three quarters in 2007, for the periods ended March 31, June 30 and September 2007, respectively. ANI also expects to become a fully-reporting company with the SEC. The company anticipates filing a Form 10SB with the SEC imminently.
For further information about Emergency Filtration Products, please visit: http://www.emergencyfiltration.com
Safe Harbor Statement
This release may contain statements that are forward-looking. Such statements are made based upon current expectations that are subject to risk and uncertainty. EFP and ANI do not undertake to update forward-looking statements in this news release to reflect actual results of and changes in assumptions or changes in other factors affecting such forward-looking information. The actual future plans and results of the companies could differ significantly from such forward-looking statements.
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