SOURCE: Applied Nanoscience, Inc.

June 18, 2009 09:03 ET

Applied Nanoscience Announces Memorandum of Understanding Agreement on NanoFense™ Protective Mask

CARLSBAD, CA--(Marketwire - June 18, 2009) - Applied Nanoscience Inc. (ANI) (PINKSHEETS: APNN), a nanotechnology-based filtration development company, today announced it has reached an agreement to collaborate on a surgical/protective mask application of the Company's NEFT™ platform with a medical disposables company in the Asia Pacific region. Both companies intend to clearly define the commercial relationship required and to be implemented as part of the formal license agreement. The licensure of ANI's broad IP platform encompassing "Filtering Devices Incorporating Nanoparticles," will be combined with a separate license of ANI's NanoFense™ formulation, a proprietary antimicrobial nanoparticle "coating" which can be applied to virtually any existing filter media.

"We are very excited at the potential of having an established leader and partner in this important market segment," said Thomas K. Allen, President and CEO, ANI. "ANI has invested significant time and resources to develop and independently validate our air filter coating technology against a broad spectrum of virus, bacteria and fungi. We are confident that this prospective new partner has the established customer base and reputation to fully exploit the medical and general population markets for a product designed to protect people at a time when stopping the transmission of harmful disease is at the forefront. The product will likely be sold under their company name in many of the countries where ANI has issued patents covering our broad NEFT platform technology. It will likely retain the NanoFense brand and a reference to ANI. This allows us the opportunity to brand our technology and corporate name in key countries while the product benefits from their company's strong name recognition. The name of the partner company will be released just prior to the release of the product for sale."

Mr. Allen continued, "Additionally, we intend to provide them the NanoFense components premixed under our own label which they will then use to make their products. It is a very desirable arrangement in a market that provides Applied Nanoscience Inc. with substantial additional revenue opportunities." NanoFense is currently patent pending in the United States.

About ANI

ANI is a marketer and developer of innovative nanotechnology-based air filtration products specifically targeted to eradicate bacteria, virus and fungi and is the owner of NEFT (Nanoparticle - Enhanced - Filtration - Technology), a broad platform with significant application potential in consumer and industrial market segments geared to reducing the transmission of infectious pathogens.

Safe Harbor Statement

This release may contain statements that are forward-looking. Such statements are made based upon current expectations that are subject to risk and uncertainty. ANI does not undertake to update forward-looking statements in this news release to reflect actual results of and changes in assumptions or changes in other factors affecting such forward-looking information. The actual future plans and results of the company could differ significantly from such forward-looking statements.

Contact Information

  • For further information, please contact:
    Thomas K. Allen
    President and CEO
    Applied Nanoscience Inc.
    1902 Wright Place Suite 200
    Carlsbad CA 92008