HUBBARD, Ohio--(BUSINESS WIRE)--NanoLogix Inc. (OTCBB:NNLX) NanoLogix, an innovator in the rapid detection, identification and determination of antibiotic resistance and sensitivity of live bacteria, announces that they have signed a distribution agreement with IVD Tech Private Ltd of Singapore. This distribution agreement provides IVD Tech with exclusive distribution rights for sales of NanoLogix products in a number of Asian countries. The agreement was finalized and signed in Hubbard Ohio with the help of Mousa Kassis, representative of the Ohio International Trade Assistance Center (ITAC) housed at Youngstown State University.
IVD Tech Private Ltd. Executive Directors James Sim and Charlton Kwan, who traveled from Singapore to NanoLogix headquarters in Ohio for the signing, made the following joint statement:
"NanoLogix possesses an amazing technology in their rapid live-cell bacteria and microorganism detection kits. Together with patented Extended Life (EL) packaging technology, IVD Tech strongly believes that NanoLogix's live-cell rapid detection kits and EL packaging technology is going to be a game changer in the diagnostics and petri plate technology space.
IVD Tech is extremely blessed and excited to be NanoLogix's Asia partner. Engagement has already started with potential channel partners and end users in Singapore, Japan, China and other countries.
IVD Tech's headquarters is purposely located in Singapore, a business and financial hub for Asia. Both NanoLogix and IVD Tech value Singapore's strong intellectual property protection, and close ties and proximity to other Asian countries. IVD Tech is to become the window and platform for Nanologix to access into the Asia region."
NanoLogix CEO, Bret Barnhizer, stated: “It is gratifying that this agreement, which was essentially in development for a year, has been executed. We are very glad to have such an accomplished business group representing our company in an area with huge business potential. We look forward to a long and mutually beneficial relationship with IVD Tech”.
In addition to a growing market presence in the United States, NanoLogix currently has business relationships in nine countries on four continents.
The State of Ohio’s ITAC is working with NanoLogix, Inc. as the company continues to increase business ties with companies in Asia, Europe, South America, and Africa. ITAC will assist with further distribution agreements projected for signing with those companies and other companies in 2014.
ITAC is an extension of the Ohio Small Business Development Center at YSU and the Ohio Development Services Agency. Mousa Kassis, ITAC advisor, assists companies with focusing their efforts on increasing export sales and employment, as well as assisting companies in 13 counties. The counties extend from Ashtabula (North) to Tuscarawas and Muskingum (South).
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, National Defense, 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: http://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.