HUBBARD, Ohio--(NanoLogix (OTC: NNLX), an innovator in the accelerated detection and identification of microorganisms, announced today it will move its research and development operations from Cincinnati to its headquarters in Hubbard, Ohio. The company is converting a portion of its headquarters facility into a laboratory to house R&D operations.)--
“Following the announced closure of BioStart, the high-tech business incubator in Cincinnati where we operated a lab for five years, the decision was made to relocate our R&D operations to our Hubbard facility. We will now have all NanoLogix activities, R&D, production and management under one roof”
“Following the announced closure of BioStart, the high-tech business incubator in Cincinnati where we operated a lab for five years, the decision was made to relocate our R&D operations to our Hubbard facility. We will now have all NanoLogix activities, R&D, production and management under one roof,” said NanoLogix CEO, Bret Barnhizer. “This consolidation of operations is projected to be essentially seamless with incremental startup of the new lab in Hubbard coinciding with scale-down of Cincinnati operations. We expect the transition to be completed by September 30, 2011. The new Hubbard lab should result in an overall increase in efficiency and lower costs for both R&D and corporate operations.”
This move comes at a point when the company is involved in several areas of work that continue to provide independent, third-party validation that NanoLogix technology is the fastest available for detection, identification and the determination of antibiotic sensitivity for live bacteria. In the area of healthcare applications, the company is expanding cooperation with the University of Texas Health Science Center-Houston, where its technology is being used in a 300-patient clinical trial. Additionally, NanoLogix is working on three projects with Battelle Biomedical Research Center covering the rapid detection and identification of numerous bacteria, including Salmonella, European E.coli, and Tuberculosis, to name a few. In drinking water monitoring, the company continues to develop a comprehensive water-quality test kit for drinking and source waters based upon the Cooperative Research and Development Agreement (CRADA) it has in place with the U.S. EPA.
NanoLogix Test Results Published In Peer-Reviewed Journal
In August, the American Journal of Perinatology early-view online published the results of tests from the University of Texas Health Science Center-Houston confirming the accuracy of BNF (BioNanoFilter) testing methods in laboratory studies. The paper states that NanoLogix technology detects and identifies live Group B Streptococcus (GBS) in four to six hours, rather than the 48 to 72 hours required by traditional methods. Paper publication in the journal is expected shortly.
These findings were recently covered in the online edition of MIT Technology Review magazine. The article can be found at: http://www.technologyreview.com/biomedicine/38404/
The full abstract of the paper can be found at: https://www.thieme-connect.com/ejournals/abstract/ajp/doi/10.1055/s-0031-1285099
Other coverage of NanoLogix in August includes:
Food Safety Magazine: Time Matters in the Detection of Microbial Contamination and the Prevention of Recalls - http://www.foodsafetymagazine.com/article.asp?id=4192&sub=sub2
Water21 Magazine: Results in hours with new quick water quality test kit: - http://www.nanologix.com/cms-assets/documents/31576-560010.20110801-water-21.pdf
Date for Shareholder’s Meeting Set
NanoLogix management has set the date of the next company shareholder’s meeting as February 10, 2012. This date was chosen based on the projected timing of the completion and full publication of the clinical trial, the publication of additional laboratory trial results, and the likelihood of post FDA and USDA approval for NanoLogix BNP (BioNanoPore) and BNF diagnostic kit technology.
About NanoLogix, Inc.
NanoLogix is a biotechnology company focused primarily on rapid diagnostics. Its products offer accelerated detection and identification of microorganisms. In addition to medical and homeland security applications, NanoLogix technology is applicable in pharmaceutical, industrial, veterinary and environmental testing. Patents granted to NanoLogix can be used in the areas of applied microbiology, soil microbiology and bioremediation, microbial physiology, molecular biology, pharmacology, pharmaco-kinetics, and antibiotic sensitivity. For more information visit www.nanologix.com.
This press release contains statements, which may constitute "forward- looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of NanoLogix, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.