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Initial Shipments of NanoShrink Material Have Been Sent to Key Opinion Leaders and Field Testing Groups for End-User Validation
Shrink Nanotechnologies, Inc. ("Shrink") (INKN 0.09, 0.00, 0.00%) , an innovative nanotechnology company developing products and licensing opportunities in the solar energy production, medical diagnostics and sensors and biotechnology research and development tools businesses, announced today the formation a new wholly-owned subsidiary, Shrink Chips LLC, which is dedicated to the commercialization of a suite of next-generation biotechnology research tools, including its patent-pending ShrinkChip Rapid Prototyping System (RPS) which is used to inexpensively and flexibly manufacture microfluidic chips, or Lab-on-a-Chip (LOC), devices as well as many other biological and chemical sensors.
LOC devices are commonly used to screen new drugs for toxicity levels, and develop new vaccines, therapeutics and novel drug therapies for some of the world's most prevalent and challenging diseases, including cancer, diabetes, Parkinson's and Alzheimer's. The use of and analysis from LOC devices, especially in the case of prototyping devices, represents a high cost for R&D groups with academic and commercial organizations. Shrink believes that companies who use Shrink's RPS solutions for initial testing, prototyping and small scale production designs will benefit from increased design flexibility with significant cost reduction.
ShrinkChips's initial suite of products will address two arget markets:
-- a desktop-sized rapid prototyping platform for use in government laboratories, academic research facilities and commercial organizations in the U.S. and abroad; and
-- an "out-of-the-box" complete biotechnology test kit for use in high school biology labs through post graduate studies.
Shrink believes that the markets for the ShrinkChip RPS prototyping platform, which is "open" source, will increase over time as the system is deployed, and academic researchers begin to publish results based on work done using the system and as Shrink begins to go to market with products it has designed and commercialized using the platform.
Mark L. Baum, CEO of Shrink Nanotechnologies, Inc. said, "Since our scientific founder, Dr. Michelle Khine, began to receive attention for her novel method of creating low cost microfluidic, biosensing and chemical sensing devices, Shrink has accumulated interest for a commercial system based on Dr. Khine's ideas. Now that we are getting closer and closer to bringing Dr. Khine's ideas to the market, we have formed ShrinkChips and will have a focused team working on this project, with a specific mission and the resources to pursue the commercial development of the ShrinkChip Rapid Prototyping System, ultimately accelerating the time-to-market for several new bioscience products."
Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Forward-looking statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements are estimates only. Actual results may differ materially from those anticipated in this press release. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to Shrink's ability to obtain additional financing and to build and develop markets for Shrink's biotechnology technologies and products. These factors should be strongly considered when making a decision to acquire or maintain a financial interest in Shrink, including consulting with a FINRA registered representative prior to making such decision. Shrink undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Shrink's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact Shrink's success are more fully disclosed in Shrink's most recent public filings with the U.S. Securities and Exchange Commission.
About Shrink Nanotechnologies
Shrink Nanotechnologies, Inc. is a one-of-a-kind FIGA(TM) organization, which focuses on leveraging contributions from experts in Finance, Industry, Government and Academia. Operating as a high-technology development-stage company, Shrink owns and develops proprietary and patent-pending nano-sized technologies, components and product systems. The Company's unique NanoShrink(TM) material is a pre-stressed polymer which is used in a patent pending manufacturing platform with numerous applications in the solar energy, human and animal diagnostics, and biotechnology research and development tools industries.
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Mark L. Baum, Esq.,
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