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 that it has entered into a licensing agreement with Corning Incorporated (NYSE: GLW).
In exchange for a commercial royalty, Shrink retains an exclusive right to use and sublicense Corning’s patent-pending modular microfluidic system for at least eight years.
The patent-pending Corning modular microfluidic system has been widely published and has generated significant interest from commercial and academic interests since it was first published in 2008 in Lab on a Chip, a high impact academic journal. This system is the world’s first fully functional plug and play modular microfluidics system that truly allows for integrated high PSI connectors, electronics and pumps. This system is capable of being used in numerous commercial research applications where ultra-fast microfluidic design prototyping is desired, in biochemical, biomedical and cell-based drug discovery applications to name a few. Shrink intends to develop this system as a premium microfluidic product offering throughout North America, Europe and Asia.