InvestorsHub Logo
Followers 26
Posts 2733
Boards Moderated 0
Alias Born 01/29/2014

Re: None

Sunday, 10/16/2016 9:13:45 PM

Sunday, October 16, 2016 9:13:45 PM

Post# of 1691
The licensing agreement announced last week. The company they did deal with is owned by Lockheed Martin


Lifeloc Technologies and Sandia Corporation Announce License Agreement

WHEAT RIDGE, Colo. & ALBUQUERQUE, N.M.--(BUSINESS WIRE)-- Lifeloc Technologies, Inc. and Sandia Corporation are pleased to announce the signing of a licensing agreement. Under the terms of the agreement, Lifeloc will acquire the exclusive rights to develop, manufacture and market Sandia’s patented SpinDx™ technology for the detection of drugs of abuse. SpinDx uses a centrifugal disk with microfluidic flow paths allowing multiple tests to be carried out on a single small sample. This technology, sometimes referred to as “Lab on a Disk,” should result in devices and tests that could be used at roadside, emergency rooms and in workplace testing to get a rapid, quantitative measure for a panel of drugs of abuse.

“As marijuana legalization spreads across the country and the world, the need to get rapid and reliable testing methods to law enforcement officers will only increase. Providing this technology is consistent with Lifeloc’s corporate mission to make our roads and workplaces safer,” said Dr. Wayne Willkomm, CEO of Lifeloc Technologies. “This license agreement is a great way to leverage the tremendous technical resources of Sandia National Laboratories with Lifeloc, a nimble, domestic manufacturer to advance the technology to development and ultimately into commercialization.”

This technology began with Sandia’s basic research into developing devices for the rapid identification of trace levels of biotoxins to combat terrorism. It has been advanced to drugs of abuse through years of work under a cooperative research and development agreement between Lifeloc and Sandia. Feasibility of detection has already been demonstrated for very low levels of delta-9-THC (the primary psychoactive agent of marijuana), cocaine, and methamphetamine.

“SpinDx can run multiple assays in minute from a single drop of blood or other bodily fluid,” said Anup Singh, Director of Sandia’s Biological and Materials Sciences Center. “Making it a great fit in Lifeloc Technologies’ work in helping to detect drug abuse. SpinDx has broad application beyond detection of drugs of abuse and can be broadly applied across food and water safety, medical diagnostics, and bio-agent detection.”

About Sandia Corporation

Sandia National Laboratories is a multimission laboratory operated by Sandia Corporation, a wholly owned subsidiary of Lockheed Martin Corp.,for the U.S. Department of Energy’s National Nuclear Security Administration. With main facilities in Albuquerque, N.M., and Livermore, Calif., Sandia has major R&D responsibilities in national security, energy and environmental technologies and economic competitiveness.

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent LCTC News