Shrink Nanotechnologies, Inc. (“Shrink”) (OTCBB:INKN), an innovative nanotechnology company developing products and licensing opportunities in the solar energy production, medical diagnostics and sensors and biotechnology research and development tools businesses, announced today the formation a new wholly-owned subsidiary, Shrink Chips LLC, which is dedicated to the commercialization of a suite of next-generation biotechnology research tools, including its patent-pending ShrinkChip Rapid Prototyping System (RPS) which is used to inexpensively and flexibly manufacture microfluidic chips, or Lab-on-a-Chip (LOC), devices as well as many other biological and chemical sensors.
LOC devices are commonly used to screen new drugs for toxicity levels, and develop new vaccines, therapeutics and novel drug therapies for some of the world's most prevalent and challenging diseases, including cancer, diabetes, Parkinson's and Alzheimer's. The use of and analysis from LOC devices, especially in the case of prototyping devices, represents a high cost for R&D groups with academic and commercial organizations. Shrink believes that companies who use Shrink’s RPS solutions for initial testing, prototyping and small scale production designs will benefit from increased design flexibility with significant cost reduction.
ShrinkChips’s initial suite of products will address two arget markets:
- a desktop-sized rapid prototyping platform for use in government laboratories, academic research facilities and commercial organizations in the U.S. and abroad; and
- an “out-of-the-box” complete biotechnology test kit for use in high school biology labs through post graduate studies.
Shrink believes that the markets for the ShrinkChip RPS prototyping platform, which is “open” source, will increase over time as the system is deployed, and academic researchers begin to publish results based on work done using the system and as Shrink begins to go to market with products it has designed and commercialized using the platform.
Mark L. Baum, CEO of Shrink Nanotechnologies, Inc. said, “Since our scientific founder, Dr. Michelle Khine, began to receive attention for her novel method of creating low cost microfluidic, biosensing and chemical sensing devices, Shrink has accumulated interest for a commercial system based on Dr. Khine’s ideas. Now that we are getting closer and closer to bringing Dr. Khine’s ideas to the market, we have formed ShrinkChips and will have a focused team working on this project, with a specific mission and the resources to pursue the commercial development of the ShrinkChip Rapid Prototyping System, ultimately accelerating the time-to-market for several new bioscience products.”