Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > BioForce Nanosciences Enters Into Licensing Agreement With Aspera Corp.

Abstract:
Operating Costs to Be Reduced by 20% Annually; BioForce Receives Equity Interest in Aspera; Potential for Licensing Income to BioForce

BioForce Nanosciences Enters Into Licensing Agreement With Aspera Corp.

AMES, IA | Posted on August 12th, 2008

BioForce Nanosciences Holdings, Inc. (OTCBB: BFNH), a producer of integrated biological and mechanical systems for life science researchers at the micro and nano scales, today announced the completion of a transaction where it licensed on a non-exclusive basis its scientific applications technology to Aspera Corp., a start-up developer of ultraminiaturized biomolecular detection systems, assays, and devices.

The transaction involved a number of elements, including:

-- BioForce licensing its scientific applications technology, including
its ViriChip™, Chip-on-a-Tip™ and CellWell™ diagnostic and
detection systems, to Aspera in exchange for royalties on any revenue
generated by Aspera from the licensed technology;

-- BioForce taking a 19% equity interest in Aspera;

-- Four BioForce employees who were directly involved in the development
of the licensed technology being transferred to Aspera; and

-- Existing governmental grants providing funding relating to development
of the licensed technology being transferred to Aspera by BioForce.


Greg Brown, Chief Financial Officer of BioForce, said, "As we have stated in the past, we are focused upon reaching profitability. This transaction, along with other organizational adjustments which have been recently made, reduces our net cash expenses by approximately $500,000 per year, or approximately 20%. As a management team we have been investigating for some time options to reduce our expense level in order to minimize the amount of required external funding and accelerate our ability to achieve profitability from operations. In that light, we felt it appropriate to focus on our revenue generating instrumentation related products and technologies. Realizing meaningful cost savings via this transaction with Aspera, as an alternative to curtailing some or all research and development activities on the scientific applications in order to achieve the cost savings, was a much better alternative for our shareholders. Additionally, as the granted licenses are non-exclusive, we retain the ability to partner with others in these areas or to further develop the technologies ourselves."

Kerry Frey, Chief Executive Officer of BioForce, said, "In addition to the financial benefits of this transaction, we are now poised to devote 100% of our efforts towards exploiting the opportunity for our instruments to be key enablers of breakthrough projects occurring in the areas of stem cell research, neural regeneration and biosensing, and the increased use of live cell assays for drug discovery and development. From an operational perspective the BioForce organization is squarely focused upon exploiting the market opportunities for our Nano eNabler and Cyto eNabler molecular printing systems, and other instrumentation oriented products and services. This is important as we look to expand our presence in the academic research community as well as initiate sales to the commercial sector."

More details of the transaction will be provided in an upcoming Form 8-K filing with the Securities and Exchange Commission.

####

About BioForce Nanosciences Holdings, Inc.
BioForce Nanosciences creates products and solutions for the life sciences by integrating biological and mechanical systems at the micro and nano scales. BioForce's flagship product, the Nano eNabler™ molecular printer, gives the Company and its customers a platform for development and discovery by printing tiny domains of biological materials on surfaces with nanometer spatial precision. BioForce technology is being used in areas such as biosensor functionalization; pattering and cell adhesion; and the printing of proteins to guide neural cell growth.

About Aspera Corp.

Aspera Corp. was started by former employees of BioForce Nanosciences who were involved in the development of the technologies licensed from BioForce. Aspera is focused on developing miniaturized biomolecular detection systems for rapid, portable and sensitive point of care diagnostics.

This news release contains forward-looking information that may be affected by certain risks and uncertainties, including those risks and uncertainties described in BioForce Nanosciences' most recent filings with the Securities and Exchange Commission. BioForce Nanosciences' actual results could differ materially from such forward-looking statements. BioForce assumes no duty to update these statements at any future date.

For more information, please click here

Contacts:
Gregory D. Brown
Chief Financial Officer
515-233-8333 ext# 118

Copyright © Marketwire

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.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Shape matters when light meets atom: Mapping the interaction of a single atom with a single photon may inform design of quantum devices December 4th, 2016

UTSA study describes new minimally invasive device to treat cancer and other illnesses: Medicine diffusion capsule could locally treat multiple ailments and diseases over several weeks December 3rd, 2016

Novel Electrode Structure Provides New Promise for Lithium-Sulfur Batteries December 3rd, 2016

Research Study: MetaSOLTM Shatters Solar Panel Efficiency Forecasts with Innovative New Coating: Coating Provides 1.2 Percent Absolute Enhancement to Triple Junction Solar Cells December 2nd, 2016

Govt.-Legislation/Regulation/Funding/Policy

Shape matters when light meets atom: Mapping the interaction of a single atom with a single photon may inform design of quantum devices December 4th, 2016

Research Study: MetaSOLTM Shatters Solar Panel Efficiency Forecasts with Innovative New Coating: Coating Provides 1.2 Percent Absolute Enhancement to Triple Junction Solar Cells December 2nd, 2016

Deep insights from surface reactions: Researchers use Stampede supercomputer to study new chemical sensing methods, desalination and bacterial energy production December 2nd, 2016

Quantum obstacle course changes material from superconductor to insulator December 1st, 2016

Nanomedicine

UTSA study describes new minimally invasive device to treat cancer and other illnesses: Medicine diffusion capsule could locally treat multiple ailments and diseases over several weeks December 3rd, 2016

Nanobiotix Provides Update on Global Development of Lead Product NBTXR3: Seven clinical trials across the world: More than 2/3 of STS patients recruited in the “act.in.sarc” Phase II/III trial: Phase I/II prostate cancer trial now recruiting in the U.S. November 28th, 2016

From champagne bubbles, dance parties and disease to new nanomaterials: Understanding nucleation of protein filaments might help with Alzheimer's Disease and type 2 Diabetes November 24th, 2016

Nanopolymer-modified protein array can pinpoint hard-to-find cancer biomarker November 17th, 2016

Announcements

Shape matters when light meets atom: Mapping the interaction of a single atom with a single photon may inform design of quantum devices December 4th, 2016

UTSA study describes new minimally invasive device to treat cancer and other illnesses: Medicine diffusion capsule could locally treat multiple ailments and diseases over several weeks December 3rd, 2016

Novel Electrode Structure Provides New Promise for Lithium-Sulfur Batteries December 3rd, 2016

Research Study: MetaSOLTM Shatters Solar Panel Efficiency Forecasts with Innovative New Coating: Coating Provides 1.2 Percent Absolute Enhancement to Triple Junction Solar Cells December 2nd, 2016

Patents/IP/Tech Transfer/Licensing

Keystone Nano Announces The US FDA Has Awarded Orphan Drug Designation For Ceramides For The Treatment Of Liver Cancer November 8th, 2016

Leti to Tackle Tomorrow's Research Strategies with Stanford University’s SystemX Alliance: French R&D Center Is the First Research Institute to Join the Collaboration and Provides Bridges Between Academia and Industry, Leveraging Alliance’s Potential October 4th, 2016

Picosun patents ALD nanolaminate to prevent electronics from overheating September 28th, 2016

NIST Patents Single-Photon Detector for Potential Encryption and Sensing Apps September 16th, 2016

Grants/Awards/Scholarships/Gifts/Contests/Honors/Records

Shape matters when light meets atom: Mapping the interaction of a single atom with a single photon may inform design of quantum devices December 4th, 2016

Quantum obstacle course changes material from superconductor to insulator December 1st, 2016

'Back to the Future' inspires solar nanotech-powered clothing November 15th, 2016

2-D material a brittle surprise: Rice University researchers finds molybdenum diselenide not as strong as they thought November 14th, 2016

Alliances/Trade associations/Partnerships/Distributorships

Leti and Grenoble Partners Demonstrate World’s 1st Qubit Device Fabricated in CMOS Process: Paper by Leti, Inac and University of Grenoble Alpes Published in Nature Communications November 28th, 2016

Mechanism for sodium storage in 2-D material: Tin selenide is an effective host for storing sodium ions, making it a promising material for sodium ion batteries October 27th, 2016

Enterprise In Space Partners with Sketchfab and 3D Hubs for NewSpace Education October 13th, 2016

Arrowhead and Spring Bank Announce Clinical Collaboration for ARC-520 and SB 9200 in Chronic Hepatitis B October 6th, 2016

Printing/Lithography/Inkjet/Inks/Bio-printing

Bumpy surfaces, graphene beat the heat in devices: Rice University theory shows way to enhance heat sinks in future microelectronics November 29th, 2016

Engineers develop new magnetic ink to print self-healing devices that heal in record time November 7th, 2016

Iran to hold intl. school on application of nanomaterials in medicine September 20th, 2016

Tailored probes for atomic force microscopes: 3-D laser lithography enhances microscope for studying nanostructures in biology and engineering/ publication in Applied Physics Letters August 11th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project