NanoSensors, Inc., a nanotechnology development company
that develops instruments and sensors to detect explosives, chemical and
biological agents announced today that it has entered into a technology
license agreement with Michigan State University for exclusive
patent-pending rights to nanoporous silicon-based electrochemical DNA
biosensors.
The license provides the Company with the exclusive worldwide right to
use for commercial purposes the licensed patent rights and related
technology for the field of use in detecting certain selected bacteria. The
license also provides the Company with the right to expand the licensed
rights to utilize the nanoporous silicon sensor platform for additional
fields of use. The technology license has a term of 15 years, or the
duration of the patent rights licensed, whichever is longer.
"With this licensing agreement in place, the Company will begin an
aggressive design effort to complete a specific prototype of our first
biosensor. We are planning to have an initial prototype developed by the
calendar year-end and expect to commence independent third party testing of
the prototype units in the first quarter of 2007. The Company believes in
the value of using porous silicon as a sensor substrate to vastly improve
the sensitivity for the detection of targeted agents and now with the MSU
license, the Company will be able to build its first sensors using this
platform," stated Dr. Ted Wong, CEO of the Company.
