NanoLogix Inc (NNLX)

[Emerald Isle]

EU, Hong Kong & PRC FlatPack Update

"NanoLogix is pleased to announce initial interest from both the EU and PRC areas in the offer for sale of the Flatpack patents for those areas.
 
To maintain rights for the near future in various EU patent agreement signatory countries while awaiting firm commitments for sale, we are paying the registration fees for the FlatPack patent in the following 14 countries:
 
Croatia
Denmark
France
Germany
Italy
Ireland
The Netherlands
Poland
Serbia
Spain
Sweden
Switzerland/Lichtenstein
Turkey
The UK
The fees for the 14 countries are approximately $30,000 USD


The FlatPack, a method of vacuum-packing of petri plates in an inert gas environment, enables long term storage of many types of petri plates at room temperature for two years or more without deterioration of the nutrient agar contained in the filled plates. Standard storage times and conditions for competitors' petri plates are normally three months in a refrigerated environment. The potential economic impact of long term high quality non-refrigerated agar-filled petri plates is significant, with daily use of agar-filled petri plates worldwide numbering in the millions and access to both guaranteed-quality agar plates and dependable refrigeration for storage varying widely from area to area.
 
A research paper by a renowned Biomedical Research Center on the qualities of FlatPacked petri plates in a comparison test with competitors can be accessed here:
 
http://medcraveonline.com/JMEN/JMEN-03-00075.pdf
 
The decision for patent sale was made based upon the challenges faced in going forward with international development for Nanologix, basically an R&D company for most of its existence with Flatpack Petri sales limited to the US, the UK, and South Africa, versus focusing upon a more easily accessed domestic market and leaving the international market to those large corporations already operating in that environment.  
 
The proceeds from the sales are to be used to expand NanoLogix petri plate production in North America, development of an additional 30+  types of the N-Assay modified ELISA Rapid bacteria detection & identification kits, and other new biotechnology development related to antibody and aptamer use in diagnostics."