This Manufacturing Agreement involves
Title: Shrink Nanotechnologies' Shrink Chips Cell Culturing Unit Enters Into Exclusive Development and Manufacturing Agreement with EV Group to Commercialize the StemDisc Platform
Industry: Business Services Sector: Services
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