Advance Nanotech Highlights Major Milestones of Banner Year; 2005 Manufacturing Deals Validate AVNA Business Model; Portfolio Investments, Expansion into Asia, and First Round of Financing Build Momentum
"Advance Nanotech has achieved a great deal this year. Several of our subsidiaries and companies into which we have invested have inked significant deals with large manufacturers in Europe, North America and Asia this year, validating our technology and the Advance Nanotech business model," said Magnus Gittins, CEO of Advance Nanotech, Inc. "In addition to our agreements with Kidde, IMS and SAMCO, Inc., we've made several new investments in promising technologies, broadened our portfolio of university partners, and significantly built out our management team and our board of directors. 2005 has been a year in which we have consolidated our infrastructure and put in place the tool set to allow for the commercialization of several of our leading nanotechnologies."
“Advance Nanotech has achieved a great deal this year. Several of our subsidiaries and companies into which we have invested have inked significant deals with large manufacturers in Europe, North America and Asia this year, validating our technology and the Advance Nanotech business model”
AVNA 2005 highlights include testing and manufacturing agreements with Kidde, IMS and SAMCO, Inc.; investments in several new research projects; completing $23.5 million in gross funding; establishing operations in Asia; expanding partnerships with key universities; and making several executive hires.
Highlights for 2005 include:
-- December 12, 2005 - Advance Nanotech announces financing for epi-CNT in partnership with the University of Cambridge. The epi-CNT project (short for epitaxial growth of carbon nanotubes) will explore the development of a new inexpensive and precise method for the controlled growth of single wall carbon nanotubes.
-- November 4, 2005 - Advance Nanotech subsidiary Owlstone Nanotech, Inc., a pioneer in the commercialization of nanotechnology-based chemical detection products announced a beta testing program with Kidde, the global fire and safety group. The Owlstone Sensor, a nano-fabricated chemical detection system, is being tested for suitability in the next generation of its safety detection, prevention and protection systems.
-- October 13, 2005 - Advance Nanotech investment Singular ID Pte. Ltd., the brand protection solution provider, announced that it has signed an agreement with IMS Corporation Pte. Ltd., a subsidiary of the Singapore Exchange listed Advanced Integrated Manufacturing (AIM) Corp Group of Companies. Under this agreement, Singular ID and IMS Corporation will work together to design, develop and commercially manufacture scanners based on Singular ID's proprietary technology.
-- October 3, 2005 - Advance Nanotech announced financing for BiMAT, a new technology that may aid in the early detection of Avian Influenza (Bird Flu) and other infectious diseases in humans and animals. One of the key applications for Advance Nanotech's BiMAT technology will be to enable first responders -- medics, EMTs and doctors -- to instantly analyze microscopic amounts biological material for specific diseases on site. BiMAT technology will eliminate the need to send samples to specialized laboratories, speeding treatment and reducing problems of handling, storage, mislabeling and treatment delay.
-- September 15, 2005 - Advance Nanotech announced execution of a licensing agreement between Advance subsidiary NANO Electronics Limited, SAMCO, INC., and the University of Cambridge for ferroelectric nanotube manufacturing technology.
-- August 8, 2005 - Advance Nanotech announced the acquisition of approximately 10 percent equity stake in Singular ID Pte. Limited, a nanotechnology spin-off company from the Institute of Materials Research and Engineering (IMRE) in Singapore. As Singular ID commences the commercialization of its technology, Senior Vice President of Business Development, Stephanie Interbartolo assumed a seat on Singular ID's Board of Directors.
-- July 5, 2005 - Advance Nanotech subsidiary Bio-Nano Sensium Technologies announces a limited beta test program of its wireless biosensor system. Under terms of the program, beta-stage versions of Bio-Nano Sensium (BNS) system will be available to potential partners and customers for evaluation.
-- March 15, 2005 - Advance Nanotech announces it would fund the latest research of Dr. Molly Stevens to develop composites incorporating nanoparticles for drug delivery applications, a project inspired by the intelligence of biological systems in sensing changes in their environment.
-- March 8, 2005 - Advance Nanotech announces the incorporation of Advance Nanotech (Singapore) Pte Ltd and the final closing of a $3.5 million financing of common stock to finance the acquisition of initial, identified technologies.
-- March 3, 2005 - Advance Nanotech announces that it has joined global businesses ALPS Electric Company Limited, Dow Corning Corporation and Marconi Corporation plc, to jointly fund a portfolio of strategic research and development work in electrical engineering at the University of Cambridge.
-- February 23, 2005 - Advance Nanotech subsidiary, NanoFED Limited, announces the launch of a $2 million collaborative project with the University of Bristol to develop a new emissive display technology based on diamond dust.
-- February 3, 2005 - Advance Nanotech announces the final closing of a $20 million financing of common stock and the formation of, and initial appointments to, the company's Corporate Advisory Board. The company will use the proceeds from this round of financing for the further development of its portfolio.
-- January 25, 2005 - Advance Nanotech subsidiary, Owlstone Nanotech, Inc., announces the expansion of its development team with the recruitment of two UK Government scientists, Russell Parris and Martyn Rush. Their experience and expertise in the field of chemical and explosive analysis will prove invaluable to Owlstone and the development of its nanofabricated threat detection technology.
About Advance Nanotech, Inc.
Advance Nanotech Inc. is dedicated to ensuring nanotechnology discoveries reach maximum market potential through successful commercialization. Advance is the trusted guide to commercial success for nanotech entrepreneurs spanning the globe, partnering with leading universities to provide scientists and researchers with mission critical infrastructure support to transform their discoveries to marketable solutions. The organization provides a range of services and support including financing, leadership assets and counsel on intellectual property, licensing and regulatory issues. With a portfolio of 21 companies developing technologies which offer potentially breakthrough nanotechnology discoveries in the electronics, biopharma and materials sectors, Advance's goal is to transform the potential for nanotechnology discoveries into innovative products that further evolve existing industries and enable new markets.
This document contains forward-looking statements by Advance Nanotech regarding its expectations as to its business, and involves risks and uncertainties and may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements.
Factors that may cause such a difference include, but are not limited to, problems and risks associated with developments in the nanotechnology industry in general and in Advance Nanotech's products under development in particular; the potential failure of Advance Nanotech's products under development to prove safe and effective in application; uncertainties inherent in the early stage of Advance Nanotech's products under development; failure to successfully implement or complete research programmes; failure to receive marketing clearance from regulatory agencies for our products under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Advance Nanotech's business, structure or projections; the development of competing products; uncertainties related to Advance Nanotech's dependence on third parties and partners; and those risks described Advance Nanotech's filings with the SEC. Advance Nanotech disclaims any obligation to update these forward-looking statements.
Further information about these and other relevant risks and uncertainties may be found in the Advance Nanotech's findings with the Securities and Exchange Commission, all of which are available from the Commission as well as other sources.