Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

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

GLOBALFOUNDRIES to Expand Presence in China with 300mm Fab in Chongqing: Company plans new manufacturing facility and additional design capabilities to serve customers in China May 31st, 2016

Nanobiotix establishes promising preclinical proof-of-concept in Immuno Oncology May 31st, 2016

UK NANOSAFETY GROUP publishes 2nd Edition of guidance to support safe working with nanomaterials May 30th, 2016

Fast, stretchy circuits could yield new wave of wearable electronics May 30th, 2016

Govt.-Legislation/Regulation/Funding/Policy

Scientists illuminate a hidden regulator in gene transcription: New super-resolution technique visualizes important role of short-lived enzyme clusters May 27th, 2016

Doubling down on Schrödinger's cat May 27th, 2016

Harnessing solar and wind energy in one device could power the 'Internet of Things' May 26th, 2016

Thermal modification of wood and a complex study of its properties by magnetic resonance May 26th, 2016

Nanomedicine

Nanobiotix establishes promising preclinical proof-of-concept in Immuno Oncology May 31st, 2016

Automating DNA origami opens door to many new uses: Like 3-D printing did for larger objects, method makes it easy to build nanoparticles out of DNA May 30th, 2016

Simple attraction: Researchers control protein release from nanoparticles without encapsulation: U of T Engineering discovery stands to improve reliability and fabrication process for treatments to conditions such as spinal cord damage and stroke May 28th, 2016

Scientists illuminate a hidden regulator in gene transcription: New super-resolution technique visualizes important role of short-lived enzyme clusters May 27th, 2016

Announcements

GLOBALFOUNDRIES to Expand Presence in China with 300mm Fab in Chongqing: Company plans new manufacturing facility and additional design capabilities to serve customers in China May 31st, 2016

Nanobiotix establishes promising preclinical proof-of-concept in Immuno Oncology May 31st, 2016

UK NANOSAFETY GROUP publishes 2nd Edition of guidance to support safe working with nanomaterials May 30th, 2016

Fast, stretchy circuits could yield new wave of wearable electronics May 30th, 2016

Patents/IP/Tech Transfer/Licensing

Programmable materials find strength in molecular repetition May 23rd, 2016

Syracuse University chemists add color to chemical reactions: Chemists in the College of Arts and Sciences have come up with an innovative new way to visualize and monitor chemical reactions in real time May 19th, 2016

Researchers integrate diamond/boron nitride crystalline layers for high-power devices May 12th, 2016

New tool allows scientists to visualize 'nanoscale' processes May 4th, 2016

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

Scientists illuminate a hidden regulator in gene transcription: New super-resolution technique visualizes important role of short-lived enzyme clusters May 27th, 2016

Finding a new formula for concrete: Researchers look to bones and shells as blueprints for stronger, more durable concrete May 26th, 2016

Light can 'heal' defects in new solar cell materials: Defects in some new electronic materials can be removed by making ions move under illumination May 24th, 2016

Supercrystals with new architecture can enhance drug synthesis May 24th, 2016

Alliances/Trade associations/Partnerships/Distributorships

UK NANOSAFETY GROUP publishes 2nd Edition of guidance to support safe working with nanomaterials May 30th, 2016

The CEA Announces Expanded Collaboration with Intel to Advance Cutting-edge Research and Innovation in Key Digital Areas May 17th, 2016

Solliance realizes first up-scaled Perovskite based PV modules with 10% efficiency: Holst Centre, imec and ECN pave the road to upscaling Perovskite PV modules May 10th, 2016

Industrial Nanotech, Inc. Expands Distribution Network in US and Internationally May 9th, 2016

Printing/Lithography/Inkjet/Inks

Physicists create first metamaterial with rewritable magnetic ordering May 23rd, 2016

Electrically Conductive Graphene Ink Enables Printing of Biosensors April 23rd, 2016

Highlights from the Graphene Flagship April 22nd, 2016

Penn engineers develop first transistors made entirely of nanocrystal 'inks April 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







Car Brands
Buy website traffic