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Posted: March 12, 2009
Advance Nanotech's Owlstone Announces First Pharmaceutical Industry Order
(Nanowerk News) Advance Nanotech, Inc. today announced that the Company's majority owned subsidiary, Owlstone Nanotech, Inc., has received an initial purchase order from Genzyme Corporation one of the world's leading biotechnology companies, for its Lonestar detection system. Bret Bader, CEO of Advance Nanotech, said, "As a result of our superior FAIMS based solution, we continue to make strong progress in unlocking the future revenue potential of significant strategic applications. We see this initial contract as a launching pad to further business development in the pharmaceutical industry."
There are numerous potential opportunities to apply Lonestar's high speed sensitive and selective detection capabilities in pharmaceutical manufacturing where there is a need to analyze solvent levels in the headspace of a process line. Owlstone's Lonestar is ideal for integration into pharmaceutical process lines to optimize manufacturing throughput and reduce costs.
Genzyme approached Owlstone with specific detection requirements for solvents that are difficult to identify at low concentrations with other products and technologies. During feasibility trials, Lonestar successfully demonstrated its capability to detect the analyte while meeting operational constraints for infield use.
Dylan Jones, Senior Manager Process Analytics at Genzyme said, "Genzyme is committed to finding medical treatments for people with serious diseases. We are pleased to invest in innovative technologies where we see opportunities to explore better ways of ensuring our patients get the quality of medication they require."
One of the world's leading biotechnology companies, Genzyme is dedicated to making a major positive impact on the lives of people with serious diseases. Since 1981, the company has grown from a small start-up to a diversified enterprise with more than 10,000 employees in locations spanning the globe and 2007 revenues of $3.8 billion. In 2007, Genzyme was chosen to receive the National Medal of Technology, the highest honor awarded by the President of the United States for technological innovation.
About Advance Nanotech, Inc. and Owlstone Nanotech, Inc.
Advance Nanotech, Inc. (d/b/a Owlstone) is in the process of restructuring its business and becoming an operating company focused on its majority owned subsidiary Owlstone Nanotech's next generation chemical detection technology. Owlstone Nanotech, Inc. ("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. For more information about Advance Nanotech, Inc. and Owlstone Nanotech, please visit www.owlstonenanotech.com.