BioForce Nanosciences Provides Review of 2008 Activities and 2009 Outlook
15 Janvier 2009 - 2:30PM
Marketwired
BioForce Nanosciences Holdings, Inc. (OTCBB: BFNH), a producer of
products and solutions for academic researchers and commercial
users based upon its ultra-micro to nano scale fluid deposition
platform, today provided a review of its 2008 activities and
comments regarding its outlook for 2009.
2008 Highlights:
-- Sale of a record thirteen of the Company's Nano eNabler systems and
expansion of the Company's user base, which now includes customers in North
America, Europe, Asia, Australia and South America.
-- Further collaborations with leading academic researchers, resulting in
scientific agreements being executed with UAlbany NanoCollege, University
of Pierre and Marie Curie, Arizona State University, Iowa State University,
and St. Thomas University, and publication of favorable research results
from the Massachusetts Institute of Technology (MIT).
-- Expansion into new markets through use of the Nano eNabler technology
platform for non-biological applications. The initial non-biological
application, employed by two BioForce customers, involves printing
electronic circuits as an alternative to lithography by drawing micron-
scale lines of conductive inks in the design of the circuit to be tested.
-- Inclusion of $1.6 million of funding for the Company's ViriChip(TM)
pathogen detection system in the 2009 Department of Defense Appropriations
Act.
-- Confidence in the Company's strategy and level of progress as
evidenced by investments totaling $650,000 from its largest shareholder,
FCPR SGAM AI Biotechnology Fund, and its management team.
-- Significant reduction in operating expenses while continuing
technology development efforts both in house and in conjunction with its
collaboration partners.
Kerry Frey, President and Chief Executive Officer of BioForce,
said, "Sales of the Nano eNabler system are accelerating, driven by
our internal marketing efforts as well as the sales efforts of our
distributors. Further expansion is anticipated for 2009 and
beyond.
"Our sales growth will be driven in part by the momentum within
the scientific community for projects in stem cell and neural
regeneration research. The fluid deposition capabilities of the
Nano eNabler are ideal for creation of the microenvironments
required for these cellular biology projects. Additionally, the
field of miniaturized biosensors requires that biological material
be deposited onto a physical element such as a piece of silicon,
creating a significant opportunity for us both in the research and
manufacturing markets. Lastly, we are beginning to see the
emergence of non-biological applications for the Nano eNabler's
capabilities as evidenced by two of our international customers
using the instrument during 2008 for the printing of electronic
circuits.
"It is certainly noteworthy that in the current economic
climate, when deferral of research and development activities as a
means of cost savings is prevalent, organizations see the
capabilities of the Nano eNabler system as being so vital to their
strategic direction that they are making a significant investment
in our technology."
Frey continued, "It is also our intent to develop relationships
with companies who can help us expand our sales and marketing
reach, both domestically and internationally, and the development
of products and services which complement our existing fluid
deposition technology. We recognize that strategic corporate
partnering relationships are critical steps for the ultimate
success of a company such as ours."
Greg Brown, BioForce's Executive Vice President and Chief
Financial Officer, commented, "We are mindful of the need to
carefully manage our cash flow in the current capital markets
environment in order to achieve breakeven operations as soon as
possible. Steps have been taken to reduce our operational expenses
to the extent possible while maintaining our ability to sell and
deliver products to our customers, and to support those customers
after the sale. We continue to require financing, and are working
to secure that funding in order to appropriately augment our
revenues and support our operations. We believe that the
significant strides made during 2008 serve as evidence of the
opportunity for growth in 2009 and beyond."
For further information about this release please contact Greg
Brown, Chief Financial Officer of BioForce at (515) 233-8333 ext.
118, or Rich Kaiser, Investor Relations at (800) 631-8127.
About BioForce Nanosciences Holdings, Inc.
BioForce Nanosciences produces products and solutions for
academic researchers and industrial companies based upon its
ultra-micro to nano scale fluid deposition platform. BioForce's
flagship product, the Nano eNabler(TM) molecular printer, gives the
Company and its customers a platform for development and discovery
by depositing fluid onto surfaces with nanometer spatial precision.
BioForce technology is being used in biological areas such as
biosensor functionalization; patterning and cell adhesion; and the
printing of proteins to guide neural cell growth, as well as in
non-biological applications. For more information, visit
http://www.bioforcenano.com or call 515-233-8333.
This news release contains forward-looking information that may
be affected by certain risks and uncertainties, including those
risks and uncertainties described in BioForce Nanosciences' most
recent filings with the Securities and Exchange Commission.
BioForce Nanosciences' actual results could differ materially from
such forward-looking statements. BioForce assumes no duty to update
these statements at any future date.
Company Contact: Gregory D. Brown Chief Financial Officer
515-233-8333 ext# 118 Email Contact Investor Relations: Yes
International Rich Kaiser 800-631-8127
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