MFIC Announces Opening of Microfluidics Technology Center
Thursday June 21, 7:00 am ET
Innovation Hub Dedicated to Advancing the Micro- and Nano-Formulation Fields
NEWTON, Mass.--(BUSINESS WIRE)--MFIC Corporation (MFIC or the Company)(OTCBB: MFIC - News) today announced the opening of the Microfluidics Technology Center, a state-of-the-art research and discovery facility located at the MFIC company headquarters in Newton, MA. MFIC is an industry-leader in fluid formulation processing equipment to produce the most uniform and smallest liquid and solid particles available for the biotech, pharmaceutical, chemical, personal care and food industries.
"The Microfluidics Technology Center will house our highly-specialized research team, dedicated to advancing the formulation field by developing new applications for Microfluidics' technology and pursuing groundbreaking work in the field of nanotechnology," said Dr. Thomai Panagiotou, Vice President of Research and Development. "We are very excited about the Center and believe it will serve as an innovation hub, playing a critical role in unlocking countless formulation solutions for our customers--including potentially life-saving drugs--that to date could not be formulated."
The Microfluidics Technology Center will provide customers full access to the Company's R&D engineers and complete product suite to prepare, characterize and optimize formulation samples. Engineers will also assist customers in improving their existing products through reformulation using proprietary, leading-edge, high-shear Microfluidizer® materials processors.
"The opening of the Center demonstrates our ongoing commitment to advancing the industry and to providing the highest quality of service to our customers," said Bob Bruno, President and Chief Operating Officer. "While we have always worked closely with customers to solve their most challenging formulation problems, the Microfluidics Technology Center will maximize this experience by providing access to the best engineers and the most advanced equipment in a single-laboratory setting designed specifically with our customers' unique needs in mind."
About MFIC Corporation:
MFIC Corporation, through its Microfluidics Division, designs, manufactures and distributes patented and proprietary high performance Microfluidizer® materials processing and formulation equipment to the biotechnology, pharmaceutical, chemical, cosmetics/personal care, and food industries. MFIC applies its 20 years of high pressure processing experience to produce the most uniform and smallest liquid and suspended solid particles available, and has provided manufacturing systems for nanoparticle products for more than 15 years.
The Company is a leader in advanced materials processing equipment for laboratory, pilot scale and manufacturing applications, offering innovative technology and comprehensive solutions for nanoparticles and other materials processing and production. More than 3,000 systems are in use and afford significant competitive and economic advantages to MFIC equipment customers.
Forward Looking Statement:
Management believes that this release contains forward-looking statements that are subject to certain risks and uncertainties including statements relating to the Company's plan to attain and/or increase operating profitability and/or to achieve net profitability. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties that could cause actual results achieved by the Company to differ materially from those described in the forward-looking statements. The Company cautions investors that there can be no assurance that the actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including but not limited to the following risks and uncertainties: (i) whether the performance advantages of the Company's Microfluidizer® materials processing equipment will be realized commercially or that a commercial market for the equipment will continue to develop, (ii) whether the performance advantages of the Company's MMR and MRT nanoparticle production systems will be realized commercially, (iii) whether the Company will be able to increase its market penetration and market share, (iv) whether the timing of orders will significantly affect quarterly revenues and resulting net income results for particular quarters which may cause increased volatility in the Company's stock price, and (v) whether the Company will have access to sufficient working capital through continued and improving cash flow from sales, and ongoing borrowing availability, the latter being subject to the Company's ability to comply with the covenants and terms of its loan agreement with its senior lender.
Contact:
MFIC Corporation
Jack M. Swig, 617-969-5452
info@mfics.com
or
MacDougall Biomedical Communications
Sarah Cavanaugh, 508-647-0209
scavanaugh@macbiocom.com
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Source: MFIC Corporation
