Nanogen Announces Issuance of Patent for Electronic Fabrication of Micro and nanoscale Devices
SAN DIEGO, May 28, 2003 /PRNewswire-FirstCall via COMTEX/ -- Nanogen, Inc.
(Nasdaq: NGEN) announced today that it has been issued U.S. Patent No.
Fabrication of Devices," by the U.S. Patent and Trademark Office. This patent
proprietary technology. Nanogen has had five patents issued year-to-date,
and micromechanical devices, into higher order structures and devices. Using
self-assembly fabrication. The heterogeneous assembly of microelectronic,
lab-on-a-chip applications. These nanofabrication techniques could lead to
faster, lower cost and more complex higher order devices and structures.
microelectronic components. The electronic 'pick and place' fabrication
processes described in the patent facilitate the bringing together of micro and
nanoscale components thereby helping solve scaling issues. By combining the best
aspects of top-down and bottom-up fabrication through Nanogen's proprietary
electronic self assembly technology, nanoscale materials and components can be
combined to form higher order devices," said Dr. Michael J. Heller, co-founder
of Nanogen, one of the inventors, and currently a Professor in the Departments
of Bioengineering and Electrical and Computer Engineering at the University of
California, San Diego.
"We believe the technology described by Nanogen's new patent could provide a key
technological advantage for nanofabrication across many diverse applications of
nanotechnology," said Howard Birndorf, Nanogen chairman and CEO. "The issuance
of this patent is a product of our continuing efforts to increase and broaden
our intellectual property portfolio."
Nanogen, Inc. develops and commercializes molecular diagnostic products for the
gene-based testing market. The Company seeks to establish the NanoChip(R)
Molecular Biology Workstation and NanoChip(R) Cartridge as the standard platform
for the detection of genetic mutations and is also developing its technology for
forensic and biowarfare applications. Nanogen offers Analyte Specific Reagents
and related products to research laboratories and clinical reference labs for
the detection of genetic mutations associated with a variety of diseases,
including cystic fibrosis, Alzheimer's disease, hereditary hemochromatosis,
cardiovascular disease, beta thalassemia and Canavan disease. The unique,
open-architecture design of its NanoChip(R) System provides laboratories with a
flexible platform to develop and validate tests to quickly, accurately, and cost
effectively detect mutations associated with the diagnoses, prediction,
screening, treatment and monitoring of diseases. The NanoChip(R) System is
intended for laboratory use only. For additional information please visit
Nanogen's web site at www.nanogen.com.
This press release contains forward-looking statements that are subject to risks
and uncertainties that could cause actual results to differ materially from
those set forth in the forward-looking statements, including whether patents
owned or licensed by the Company will be developed into products, whether the
Company's NanoChip(R) System can be successfully further commercialized, whether
other products under development can be successfully developed and
commercialized, whether results reported by our customers or partners can be
identically replicated, whether ASRs currently sold by the Company will become
FDA-approved molecular diagnostic test kits, whether Nanogen will be successful
in developing additional ASRs and protocols utilizing the NanoChip(R) System,
whether current trends in product revenue will continue in the future, and other
risks and uncertainties discussed under the caption "Factors That May Affect
Results" and elsewhere in the Company's Form 10-K for the year ended December
31, 2002 filed with the Securities and Exchange Commission. These
forward-looking statements speak only as of the date hereof. The Company
disclaims any intent or obligation to update these forward-looking statements.
SOURCE Nanogen, Inc.
CONTACT: David Ludvigson, Executive Vice President of Nanogen, Inc.,
+1-858-410-4600; or Pam Lord, Media Relations of Atkins + Associates,
+1-858-527-3494, for Nanogen, Inc.
URL: http://www.nanogen.com http://www.prnewswire.com
Copyright (C) 2003 PR Newswire. All rights reserved.
In the Money Longs: NGEN
Boston, May 29, 2003 (MidnightTrader via COMTEX) -- Nanogen (NGEN) is advancing
42.4% in its first Instinet trades today, rising after reporting Wednesday night
it was awarded a new U.S. patent.
The stock added 23% in last night's after-hours session.
Price: 2.89, Change: +0.86, Percent Change: +42.4