Inc., (OTC Bulletin Board: AVNA), today announced that the Company's majority
owned subsidiary, Owlstone Nanotech, Inc., has received an initial purchase
order from Genzyme Corporation one of the world's leading biotechnology companies,
for its Lonestar detection system. Bret Bader, CEO of Advance Nanotech, said,
"As a result of our superior FAIMS based solution, we continue to make
strong progress in unlocking the future revenue potential of significant strategic
applications. We see this initial contract as a launching pad to further business
development in the pharmaceutical industry."
There are numerous potential opportunities to apply Lonestar's high speed sensitive
and selective detection capabilities in pharmaceutical manufacturing where there
is a need to analyze solvent levels in the headspace of a process line. Owlstone's
Lonestar is ideal for integration into pharmaceutical process lines to optimize
manufacturing throughput and reduce costs.
Genzyme approached Owlstone with specific detection requirements for solvents
that are difficult to identify at low concentrations with other products and
technologies. During feasibility trials, Lonestar successfully demonstrated
its capability to detect the analyte while meeting operational constraints for
Dylan Jones, Senior Manager Process Analytics at Genzyme said, "Genzyme
is committed to finding medical treatments for people with serious diseases.
We are pleased to invest in innovative technologies where we see opportunities
to explore better ways of ensuring our patients get the quality of medication