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

Scientists create antilaser for ultracold atoms condensate August 16th, 2018

Research brief: UMN researchers use green gold to rapidly detect and identify harmful bacteria August 15th, 2018

Particles pull last drops of oil from well water: Rice University engineers find nanoscale solution to 'produced water' problem August 15th, 2018

CTI Materials drives nano commercialization with it's patented surfactant free nanoparticle dispersions August 15th, 2018

Govt.-Legislation/Regulation/Funding/Policy

Research brief: UMN researchers use green gold to rapidly detect and identify harmful bacteria August 15th, 2018

Particles pull last drops of oil from well water: Rice University engineers find nanoscale solution to 'produced water' problem August 15th, 2018

Flipping the switch on supramolecular electronics August 14th, 2018

New technology can detect hundreds of proteins in a single sample: Improvement of barcoding technique offers cost-effective alternative to current technology August 13th, 2018

Nanomedicine

Research brief: UMN researchers use green gold to rapidly detect and identify harmful bacteria August 15th, 2018

New technology can detect hundreds of proteins in a single sample: Improvement of barcoding technique offers cost-effective alternative to current technology August 13th, 2018

Scientists squeeze nanocrystals in a liquid droplet into a solid-like state and back again: Simple chemical technique transforms crystal mixture where 2 liquids meet August 9th, 2018

Nanoscience and the future of healthcare kick off first day of ACS national meeting in Boston: Presidential events highlight safety, diversity and groundbreaking research August 2nd, 2018

Announcements

Scientists create antilaser for ultracold atoms condensate August 16th, 2018

Research brief: UMN researchers use green gold to rapidly detect and identify harmful bacteria August 15th, 2018

Particles pull last drops of oil from well water: Rice University engineers find nanoscale solution to 'produced water' problem August 15th, 2018

How hot is Schrödinger's coffee? August 15th, 2018

Patents/IP/Tech Transfer/Licensing

CTI Materials drives nano commercialization with it's patented surfactant free nanoparticle dispersions August 15th, 2018

Sirrus's Issued Patent Portfolio Continues To Accelerate July 18th, 2018

Changing the grocery game: Manufacturing process provides low-cost, sustainable option for food packaging June 26th, 2018

Tunable diamond string may hold key to quantum memory: A process similar to guitar tuning improves storage time of quantum memory May 24th, 2018

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

Research brief: UMN researchers use green gold to rapidly detect and identify harmful bacteria August 15th, 2018

Particles pull last drops of oil from well water: Rice University engineers find nanoscale solution to 'produced water' problem August 15th, 2018

Breaking down the Wiedemann-Franz law: In a study exploring the coupling between heat and particle currents in a gas of strongly interacting atoms, physicists at ETH Zurich find puzzling behaviours August 10th, 2018

Yale-NUS scientist and collaborators solve open theoretical problem on electron interactions August 10th, 2018

Alliances/Trade associations/Partnerships/Distributorships

Leti & CMP Announce World’s First Multi-Project-Wafer Service with Integrated Silicon OxRAM: Oxide-Based Resistive Ram Memory Platform Development for Backend Memories To Offer Non-Volatility Associated with Embedded Designs August 2nd, 2018

Leti and Oscaro Partner on Leti’s New Low-Power, Low-Cost Transceiver to Track Parcels July 12th, 2018

Leti and Soitec Launch a New Substrate Innovation Center to Develop Engineered Substrate Solutions: Industry-inclusive hub promotes early collaboration and learning from substrate to system level July 11th, 2018

Leti & Partners Launch Pilot Program to Assess New Perception Sensors for Autonomous Vehicles July 5th, 2018

Printing/Lithography/Inkjet/Inks/Bio-printing

CTI Materials drives nano commercialization with it's patented surfactant free nanoparticle dispersions August 15th, 2018

Future electronic components to be printed like newspapers July 20th, 2018

Making carbon nanotubes as usable as common plastics: Researchers discover that cresols disperse carbon nanotubes at unprecedentedly high concentrations May 15th, 2018

New 4-D printer could reshape the world we live in March 20th, 2018

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



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project