Shrink Nanotechnologies' Shrink Chips Cell Culturing Unit Enters
Into Exclusive Development and Manufacturing Agreement with EV
Group to Commercialize the StemDisc Platform
Initial
StemDisc450 Structured Films to be Manufactured in EV Group's
State-of-the-Art Tempe, Arizona Facility
CARLSBAD,
Calif., Dec. 8, 2010 /PRNewswire/ -- Shrink Nanotechnologies, Inc.
("Shrink") (OTC Bulletin Board: INKN.ob - News ), an
innovative nanotechnology company developing products and licensing
opportunities in the solar energy industry, medical diagnostics and
sensors and biotechnology research and development tools
businesses, announced today that it has entered into a multi-year
development and manufacturing agreement with EV Group, a leader in
the nano-imprint lithography process development and equipment
manufacturing. The mutually exclusive, two year agreement
calls for EV Group and Shrink to develop and manufacture Shrink's
structured substrates for its StemDisc stem cell and cell culturing
platform.
"We are pleased
to announce Shrink's relationship with EV Group, a world-class
nanotechnology applications developer and equipment manufacturer
with a global presence. Over the past two years, Shrink
StemDisc product footprint has served as a platform for our entry
into the growing cell culturing business. We believe that
StemDisc offers unique competitive advantages relative to its peers
and are excited as an organization as we roll out our initial
products later this year and into the first quarter of next year,"
said Mark L. Baum, CEO of Shrink Nanotechnologies, Inc.
Baum added,
"Throughout the development process, we have counseled with EV
Group and they have assisted us in creating manufacturing solutions
that will allow Shrink to move from the prototype stage to the
ability make many thousands of devices. As important, our
relationship with EV Group has been structured for us to move
beyond our initial product, the StemDisc450, as we add new products
to the StemDisc family of products."
Steven Dwyer,
EV Group Inc., Vice President and General Manager of North America
stated, "Our Agreement with Shrink follows many months of work
between Shrink's StemDisc development group and our staff in Tempe,
Arizona. Our team's dedication to meeting Shrink's strict
fabrication requirements demonstrates the success of our overall
effort to develop our process services at our Tempe, AZ facility.
This effort will ensure that Shrink has access to many
thousands of StemDisc devices as soon as the end of this year, in
an efficient and cost effective process, using EV Group's
state-of-the-art Applications Lab This project will hopefully
be one of many we work on with Shrink as EV Group leverages its
significant intellectual capital in the form of process
an
