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Applied Nanoscience Announces Memorandum of Understanding Agreement on NanoFense™ Protective Mask "We are very excited at the potential of having an established leader and partner in this important market segment," said Thomas K. Allen, President and CEO, ANI. "ANI has invested significant time and resources to develop and independently validate our air filter coating technology against a broad spectrum of virus, bacteria and fungi. We are confident that this prospective new partner has the established customer base and reputation to fully exploit the medical and general population markets for a product designed to protect people at a time when stopping the transmission of harmful disease is at the forefront. The product will likely be sold under their company name in many of the countries where ANI has issued patents covering our broad NEFT platform technology. It will likely retain the NanoFense brand and a reference to ANI. This allows us the opportunity to brand our technology and corporate name in key countries while the product benefits from their company's strong name recognition. The name of the partner company will be released just prior to the release of the product for sale." Mr. Allen continued, "Additionally, we intend to provide them the NanoFense components premixed under our own label which they will then use to make their products. It is a very desirable arrangement in a market that provides Applied Nanoscience Inc. with substantial additional revenue opportunities." NanoFense is currently patent pending in the United States.
About ANI ANI is a marketer and developer of innovative, high performance nanotechnology-based filtration products to customers worldwide and is the owner of NEFT™ (Nanoparticle -- Enhanced -- Filtration -- Technology), a broad platform with significant application potential in consumer market segments. For further information about Applied Nanoscience Inc., please visit: www.appliednanoscience.com Safe Harbor Statement Contact: |