Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button

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

Scientists change properties of zeolites to improve hemodialysis July 29th, 2016

Novel state of matter: Observation of a quantum spin liquid July 29th, 2016

A new type of quantum bits July 29th, 2016

Lonely atoms, happily reunited July 29th, 2016

Beating the heat a challenge at the nanoscale: Rice University scientists detect thermal boundary that hinders ultracold experiments July 28th, 2016

Chemistry

Lonely atoms, happily reunited July 29th, 2016

New nontoxic process promises larger ultrathin sheets of 2-D nanomaterials July 27th, 2016

Products

Oxford Nanoimaging to provide desktop super-resolution microscopes May 10th, 2016

Abalonyx launches Reduced Graphene Oxide Product: Abalonyx has successfully scaled up production of thermally reduced graphene oxide (rGO) in its Tofte, Norway, production facility. This product is now offered to customers in Kg-quantities May 10th, 2016

New Generation of Graphene Reinforced Carbon Fibre Prepreg Products March 14th, 2016

New Generation of Graphene Reinforced Carbon Fibre Prepreg Products March 10th, 2016

Sensors

Ultrasensitive sensor using N-doped graphene July 26th, 2016

Integration of novel materials with silicon chips makes new 'smart' devices possible July 25th, 2016

Electron 'spin control' of levitated nanodiamonds could bring advances in sensors, quantum information processing July 20th, 2016

Easier, faster, cheaper: A full-filling approach to making nanotubes of consistent quality: Approach opens a straightforward route for engineering the properties of single-wall carbon nanotubes July 19th, 2016

Announcements

Scientists change properties of zeolites to improve hemodialysis July 29th, 2016

Novel state of matter: Observation of a quantum spin liquid July 29th, 2016

A new type of quantum bits July 29th, 2016

Lonely atoms, happily reunited July 29th, 2016

Military

Beating the heat a challenge at the nanoscale: Rice University scientists detect thermal boundary that hinders ultracold experiments July 28th, 2016

Ultrasensitive sensor using N-doped graphene July 26th, 2016

Borrowing from pastry chefs, engineers create nanolayered composites: Method to stack hundreds of nanoscale layers could open new vistas in materials science July 25th, 2016

Integration of novel materials with silicon chips makes new 'smart' devices possible July 25th, 2016

Alliances/Trade associations/Partnerships/Distributorships

Thomas Swan and NGI announce unique partnership July 28th, 2016

Starpharma initiates new DEP™ drug delivery program with AstraZeneca July 27th, 2016

XEI Scientific Partners with Electron Microscopy Sciences to Promote and Sell its Products in North and South America July 25th, 2016

Leti and Korea Institute of Science and Technology to Explore Collaboration on Advanced Technologies for Digital Era July 14th, 2016

New-Contracts/Sales/Customers

Thomas Swan and NGI announce unique partnership July 28th, 2016

Oxford Instruments and Dresden High Magnetic Field Laboratory collaborate to develop HTS magnet technology components for high field superconducting magnet systems June 29th, 2016

Nanometrics Selected for Third-Generation 3D-NAND Process Control: Atlas® Systems Extend Advanced Device Manufacturing Capability June 14th, 2016

Industrial Nanotech, Inc. Signs Agreement With and Receives First Purchase Order from Major New Customer in China June 6th, 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