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Posted: March 24, 2010

Advance Nanotech Announces New Owlstone Board Member

(Nanowerk News) Advance Nanotech, Inc. has announced that Dr. Yiannis Monovoukas, Ph.D., MBA has agreed to join the board of directors of Owlstone Nanotech, Inc. ("Owlstone"). Dr. Monovoukas is currently Chairman, President and CEO of TEI Biosciences Inc, a privately held regenerative medicine company based in Boston, Massachusetts.
Prior to TEI Biosciences, Dr. Monovoukas was President and CEO of Thermo Fibergen, a spin out from Thermo Electron where Dr. Monovoukas led the company from R&D concept through to becoming a profitable public company. Prior to Thermo Fibergen, Dr. Monovoukas worked at Thermo Electron as a corporate business analyst and at Raychem Corporation as an engineer/scientist. Dr. Monovoukas is currently on the advisory committee for LifeTech Boston, an initiative dedicated to fostering the growth of Boston's life sciences sector.
"We are pleased to have Yiannis join the Owlstone team on its board of directors," commented Bret Bader, CEO of Owlstone. "Yiannis has strong and proven experience in bringing technology products to market, along with a deep understanding of the biomedical markets in which we believe Owlstone's technology is applicable. In addition, Yiannis' prior experience at Thermo Electron provides Owlstone with additional expertise in the detection instruments market."
"Owlstone's technology has transformative potential in a wide variety of markets," remarked Dr. Monovoukas. "I am looking forward to working closely with the Owlstone team on pursuing its product commercialization roadmap along with evaluating additional markets where its technology has relevance."
Dr. Monovoukas holds a bachelor's of science degree from Columbia University and MS and Ph.D. degrees from Stanford University. He also has an MBA from the Harvard Business School. Dr. Monovoukas resides in Weston, Massachusetts.
About Advance Nanotech, Inc. and Owlstone Nanotech, Inc.
Advance Nanotech, Inc. owns a minority position in Owlstone Nanotech, Inc. ("Owlstone"). Owlstone is a pioneer in the commercialization of chemical detection products. The Owlstone detector is a revolutionary dime-sized sensor that can be programmed to detect a wide range of chemical agents that may be present in extremely small quantities. Using leading-edge micro- and nano-fabrication techniques, Owlstone has created a complete chemical detection sensor that is significantly smaller and can be produced more cost effectively than products using existing technology. There are numerous applications -- across industries from security and defense to industrial process, air quality control and healthcare -- that depend on the rapid, accurate detection and measurement of chemical compounds. Owlstone works with market leaders within these industries to integrate the detector into next generation chemical sensing products and solutions. Owlstone's technology offers a unique combination of benefits, including small size, low manufacturing costs, minimal power consumption, reduced false-positives, and a customizable platform.
Source: Advance Nanotech (press release)
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