PRESS RELEASE
ADVANCED LIQUID LOGIC ACQUIRES MICROFLUIDICS COMPANY NANOLYTICS
RESEARCH TRIANGLE PARK, N.C., February 22, 2007 – Advanced Liquid Logic, a microfluidics “lab-on-a-chip” spinout from Duke University’s Pratt School of Engineering, announced today that it had acquired Nanolytics, Inc.
“This clearly gives us the high ground in the race for both demonstrated progress and intellectual property in this exciting new technology. The technology has huge potential for miniaturizing test equipment and performing complex tests at the point of sample collection”, said Richard West, CEO of Advanced Liquid Logic. “Not only will we benefit from Nanolytics’ patents but from the continuing contributions of key Nanolytics employees as well.”
Nanolytics, founded in the late 1990’s, had received several million dollars in commercial and Government support prior to the transaction. Michael Pollack, an early Nanolytics employee, left Nanolytics to further develop the technology at Duke University and then went on to co-found Advanced Liquid Logic in 2004. “Our own excellent team has brought us to this important milestone,” said Advanced Liquid Logic’s other co-founder Vamsee Pamula. “While the technology is exciting it takes much more than that to create a promising company with the resources to become the industry leader.”
“I look forward to working with the Advanced Liquid Logic team as we move the technology into game-changing products,” said Nanolytics Founder and CTO Alex Shenderov.
The terms of the acquisition were not disclosed.
About Advanced Liquid Logic, Inc.
Advanced Liquid Logic is leading the development of a new technology for micro-liquid-handling called digital microfluidics. Small droplets can be moved under direct, programmable, software control to perform complex, liquid-based testing in a palmtop-sized device. The Company’s primary focus is developing products for medical diagnostics and monitoring. The Company has demonstrated clinical chemistry assays, immunoassays, and PCR on the technology platform and is in the process of implementing DNA sequencing, analyte sorting, test multiplexing, and integrated sample preparation. To date Advanced Liquid Logic has received several million dollars in NIH grants and venture financing for technology and product development and will launch its first commercial product in late 2007.
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Contact: Richard West, CEO, Advanced Liquid Logic, 919-287-9010 or rwest@liquid-logic.com. Visit the Advanced Liquid Logic Web site at www.liquid-logic.com.
