SOURCE: Advance Nanotech, Inc.

June 15, 2010 12:24 ET

Owlstone Presents Pharmaceutical Application Data on Ultra-FAIMS

MONTEBELLO, NY--(Marketwire - June 15, 2010) -   Advance Nanotech, Inc. (OTCBB: AVNA) is pleased to announce that Owlstone has released certain results of a pharmaceutical application study using its Ultra-FAIMS technology. The results were made public at the ASMS 2010 annual conference and can be found on Owlstone's website (www.owlstonenanotech.com/site.php?news) under the Owlstone twitter feed (OwlstoneNano).

The aim of the study was to test whether the Owlstone Ultra-FAIMS device could provide useful ion separation for pharmaceutical applications. The results demonstrated that the Ultra-FAIMS device does deliver additional selectivity that can enhance pharmaceutical analyses by reducing or eliminating background noise and by separating co-eluding ions.

"The pharmaceutical industry represents a large market with a real need for highly sensitive and selective detection capabilities," commented Jon Buttles, Principal Executive Officer of Advance Nanotech. "Owlstone's technology is ideally suited for pharmaceutical applications in areas such as manufacturing process lines and contamination-related prevention. In process lines, Owlstone's technology can further optimize manufacturing throughput which results in more efficient pharmaceutical manufacturing. As a preventative measure, Owlstone's technology may be used to detect impurities and contaminants that potentially have the ability to shut down process lines and could cost pharmaceutical companies millions of dollars in clean up, regulatory fines and lost revenues."

Ultra-Field Asymmetric Ion Mobility Spectrometry (Ultra-FAIMS) is a high speed, gas phase ion separation technique developed by Owlstone. When interfaced to a Mass Spectrometer, the Ultra-FAIMS device provides extra separation that can benefit a wide range of liquid chromatography-mass spectrometry (LC-MS) analyses. FAIMS filters orthogonally to both LC and MS, so it can reduce interference from complex backgrounds and separate analytes that are difficult to distinguish using only LC-MS.

The pharmaceutical data was presented at the 58th American Society for Mass Spectrometry (ASMS) Conference on Mass Spectrometry and Allied Topics held in May 2010 in Salt Lake City, Utah. The ASMS was formed in 1969 to promote and disseminate knowledge of mass spectrometry and allied topics. Membership includes over 7,500 scientists involved in research and development. Members come from academic, industrial and governmental laboratories. Their interests include advancement of techniques and instrumentation in mass spectrometry, as well as fundamental research in chemistry, geology, forensics, biological sciences and physics. ASMS sponsors the Annual Conference on Mass Spectrometry and Allied Topics that is attended by more than 6,500 scientists.

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. For more information about Advance Nanotech, Inc., please visit www.advancenanotech.com. For more information about Owlstone, please visit www.owlstonenanotech.com.

The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, spending levels, market acceptance of product lines, the recent economic slowdown affecting technology companies, the future success of scientific studies, ability to successfully develop products, rapid technological change, changes in demand for future products, legislative, regulatory and competitive developments, the Company's ability to secure additional working capital and/or generate sufficient cash flow to support its operations, and other factors could cause actual results to differ materially from the Company's expectations. Advance Nanotech's Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports and other SEC filings discuss some of the important risk factors that may affect Advance Nanotech's business, results of operations and financial condition. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

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