SOURCE: Spring Creek Capital Corporation

January 26, 2010 15:30 ET

BioCube, Inc. and Battelle Memorial Institute Enter Into an Agreement Granting BioCube the Rights to Battelle's Environmentally Safe Microaerosol Decontamination Technology

NEW YORK, NY--(Marketwire - January 26, 2010) - Spring Creek Capital Corporation (OTCBB: SCRK) announced today that one of its portfolio companies, BioCube, Inc., a developer and marketer of innovative products and applications using proprietary aqueous solutions, has entered into an agreement with Battelle Memorial Institute (Battelle), the operator of U.S. Department of Energy's Pacific Northwest National Laboratory (PNNL). The agreement provides BioCube with nonexclusive domestic rights and exclusive rights in all other areas (except Russia and NIS) to develop and market the microaerosol-based technology developed by Battelle at PNNL and products that result there as well as access to Battelle's test data compiled over the last 4 years that demonstrates the efficacy of licensed technology.

As previously announced by BioCube, Inc., it is collaborating with its Russian research partners to complete the development of an environmentally safe decontamination system modeled after research conducted at PNNL. The system developed at PNNL has demonstrated effective handling of microbial and fungal cells, spores, and viruses that are the core of such infections as MRSA infection, Avian Flu, Swine Flu and common molds.

There are a variety of methods allowing for decontamination of pathogens. However, the majority of these methods have serious limitations because they are either toxic, or have significant negative effects on sensitive equipment and interior materials. BioCube's system will be environmentally safe, with a minimal effect on humans and animals, using solutions that are biodegradable, non-toxic and economically efficient.

BioCube believes that this decontamination technology holds significant promise as a long-term solution to a growing problem of dealing with pathogen compromised facilities and will initially focus on applications in the healthcare and transportation markets.

In addition to microaerosol applications, BioCube is exploring other numerous uses for its aqueous solutions, which has conclusively demonstrated its superior properties in wound care and sterilization applications.

About Spring Creek Capital Corp.

Spring Creek Capital Corp. is a closed-end investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. Spring Creek intends to invest principally in equity securities, including convertible preferred securities and debt securities of private U.S. based micro-cap companies. Spring Creek plans to provide its portfolio companies with management expertise as well as capital. Its investment objective is to maximize the portfolio's capital appreciation while generating current income from the portfolio investments.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in Spring Creek Capital's most recently filed Form 10-K and Form 10-Q reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. Spring Creek Capital assumes no obligation to update the statements contained in this release.

Contact Information

  • Contact:
    Kelly T. Hickel
    Chairman
    Spring Creek Capital
    Telephone: 646.896.3050
    Email: Email Contact