Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Owlstone and SELEX Galileo Execute Exclusive Licensing Transaction

Abstract:
Advance Nanotech, Inc. (OTCBB: AVNA) is pleased to report that its minority owned subsidiary, Owlstone Nanotech, Inc. ("Owlstone") has entered into an exclusive strategic development agreement with SELEX Galileo, a Finmeccanica company and one of Europe's foremost aerospace and defense organizations.

Owlstone and SELEX Galileo Execute Exclusive Licensing Transaction

Montebello, NY | Posted on January 12th, 2010

Owlstone and SELEX Galileo have executed a licensing agreement by which SELEX Galileo will obtain the exclusive right to develop and distribute Owlstone's FAIMS chemical detection technology products within the military marketplace. Although the terms are confidential, the agreement is inclusive of an upfront exclusivity fee and development funding provided to Owlstone for the purposes of securing Owlstone's engineering and technology capability within the military sector. The initial agreement is for a period of 12 months.

This strategic transaction is the latest development in a three year SELEX Galileo funded collaboration to design and evolve its NexSense integrated detection platform to meet specifications set forth by military customers around the world. SELEX Galileo is a leader in surveillance, protection, tracking, targeting, navigation & control and imaging systems.

"This new initiative marks a significant evolution in our continuing relationship with SELEX Galileo," commented Owlstone's CEO, Bret Bader. "We are delighted to forge this stronger link between our two companies as part of our ongoing effort to deliver revolutionary technology to this critical market."

Alastair Morrison, Senior Vice President Radar and Advanced Targeting at SELEX Galileo, said, "We chose to work with Owlstone on the basis of their superior technical capabilities in micro-fabricated FAIMS systems. Securing exclusivity for the military sector represents a win for both organisations as it combines SELEX Galileo's established market position with Owlstone's proven innovation and engineering capability."

The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, spending levels, market acceptance of product lines, the recent economic slowdown affecting technology companies, the future success of scientific studies, ability to successfully develop products, rapid technological change, changes in demand for future products, legislative, regulatory and competitive developments, the Company's ability to secure additional working capital and/or generate sufficient cash flow to support its operations, and other factors could cause actual results to differ materially from the Company's expectations. Advance Nanotech's Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports and other SEC filings discuss some of the important risk factors that may affect Advance Nanotech's business, results of operations and financial condition. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

####

About Advance Nanotech
Advance Nanotech, Inc. owns a minority position in Owlstone Nanotech, Inc. ("Owlstone"). Owlstone is a pioneer in the commercialization of chemical detection products. The Owlstone detector is a revolutionary dime-sized sensor that can be programmed to detect a wide range of chemical agents that may be present in extremely small quantities. Using leading-edge micro- and nano-fabrication techniques, Owlstone has created a complete chemical detection sensor that is significantly smaller and can be produced more cost effectively than products using existing technology. There are numerous applications -- across industries from security and defense to industrial process, air quality control and healthcare -- that depend on the rapid, accurate detection and measurement of chemical compounds. Owlstone works with market leaders within these industries to integrate the detector into next generation chemical sensing products and solutions. Owlstone's technology offers a unique combination of benefits, including small size, low manufacturing costs, minimal power consumption, reduced false-positives, and a customizable platform. For more information about Advance Nanotech, Inc. and Owlstone, please visit www.owlstonenanotech.com.

About SELEX Galileo

SELEX Galileo, a Finmeccanica company, is a leading player in defence electronics. The Company employs over 7,000 people and operates in three domestic markets: the UK, Italy and the US through dedicated legal entities. With a distinctive strength in airborne mission critical systems, and a wide range of capabilities for the battlefield and for homeland security applications, SELEX Galileo is always offering the best solution to its customers. Further information can be obtained from our website www.selexgalileo.com

For more information, please click here

Contacts:
US Office:
Owlstone Nanotech Inc
400 Rella Boulevard
Suite 160
Suffern, NY 10901
845-533-4225 Office
845-533-4232 Fax


UK Office:
Owlstone Ltd
127 Cambridge Science Park
Milton Road
Cambridge
CB4 0GD
Tel: +44 (0)1223 428200
Fax: +44 (0)1223 428201

Copyright © Advance Nanotech

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

International research partnership tricks the light fantastic March 2nd, 2015

UC research partnership explores how to best harness solar power March 2nd, 2015

Researchers turn unzipped nanotubes into possible alternative for platinum: Aerogel catalyst shows promise for fuel cells March 2nd, 2015

Important step towards quantum computing: Metals at atomic scale March 2nd, 2015

Chemistry

Chromium-Centered Cycloparaphenylene Rings as New Tools for Making Functionalized Nanocarbons February 24th, 2015

Stretch and relax! -- Losing 1 electron switches magnetism on in dichromium February 23rd, 2015

A straightforward, rapid and continuous method to protect MOF nanocrystals against water February 9th, 2015

Research shows benefits of silicon carbide for sensors in harsh environments: Advantages identified across industries February 9th, 2015

Products

Toronto-based Environmental Technology Pioneer Green Earth Nano Science Expands in EU February 6th, 2015

DELSEY by Philippe Starck DELSEY Launches New Collection by Philippe Starck February 4th, 2015

NEI introduces NANOMYTE® SuperAi, a Durable Anti-ice Coating December 4th, 2014

Biosenta Inc. Updates New Household Disinfectant Testing Results; It Kills 100% of a Broad Range of Deadly Molds, Fungi, Bacteria, and Viruses, Including Ebola and Enterovirus D68 November 20th, 2014

Sensors

Penn researchers develop new technique for making molybdenum disulfide: Extra control over monolayer material with advantages over graphene February 19th, 2015

Researchers build atomically thin gas and chemical sensors: Sensors made of molybdenum disulfide are small, thin and have a high level of selectivity when detecting gases and chemicals February 19th, 2015

Production of Biosensor in Iran to Detect Oxalic Acid February 18th, 2015

Improved fire detection with new ultra-sensitive, ultraviolet light sensor February 17th, 2015

Announcements

International research partnership tricks the light fantastic March 2nd, 2015

UC research partnership explores how to best harness solar power March 2nd, 2015

Researchers turn unzipped nanotubes into possible alternative for platinum: Aerogel catalyst shows promise for fuel cells March 2nd, 2015

Important step towards quantum computing: Metals at atomic scale March 2nd, 2015

Military

Researchers turn unzipped nanotubes into possible alternative for platinum: Aerogel catalyst shows promise for fuel cells March 2nd, 2015

Simulating superconducting materials with ultracold atoms: Rice physicists build superconductor analog, observe antiferromagnetic order February 23rd, 2015

Penn researchers develop new technique for making molybdenum disulfide: Extra control over monolayer material with advantages over graphene February 19th, 2015

New nanogel for drug delivery: Self-healing gel can be injected into the body and act as a long-term drug depot February 19th, 2015

Alliances/Partnerships/Distributorships

Launch of the Alliance for Space Development March 1st, 2015

Imec, Holst Centre and Renesas Present World’s Lowest Power 2.4GHz Radio Chip for Bluetooth Low Energy March 1st, 2015

Imec, Murata, and Huawei Introduce Breakthrough Solution for TX-to-RX Isolation in Reconfigurable, Multiband Front-End Modules for Mobile Phones: Electrical-Balance Duplexers Pave the Way to Integrated Solution for TX-to-RX Isolation March 1st, 2015

Imec Demonstrates Compact Wavelength-Division Multiplexing CMOS Silicon Photonics Transceiver March 1st, 2015

New-Contracts/Sales/Customers

United Nanotech Innovations Lists Materials for Trade on INSCX™ Exchange and Appoints Fullerex as Merchant February 17th, 2015

Virginia Tech Purchases Two Bruker Fluorescence Microscope Solutions: High-Speed Instruments Combine to Cover Wide Optical Resolution Range February 10th, 2015

Nano Labs Announces the Opportunity to Submit the POLEC Liquid Cement Product for Test Trials to Be Used in the Construction of the New International Airport of Mexico City (NAICM) February 2nd, 2015

The Original Frameless Shower Doors Installs DFI's FuseCube™ to Offer Hydrophobic Protective Coating as a Standard Feature: First DFI FuseCube™ Installed on the East Coast to Enable Key Differentiator for the Original Frameless Shower Doors January 29th, 2015

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







© Copyright 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE