NEW YORK, Nov. 2, 2004 (PRIMEZONE) -- A collaboration to promote bio-nanotechnology projects between Imperial College London and Advance Nanotech, a U.S. based company which acquires and commercialises nanotechnology applications worldwide, is announced today.
Advance Nanotech has provided $6.25 million (3.4 million Pounds) to the College's Institute of Biomedical Engineering, a multi-disciplinary organisation bringing together expertise in science, engineering and medicine to develop the next generation of medical technologies.
Professor Chris Toumazou, Director of the Institute, explains: "We are very excited that Advance Nanotech has chosen to partner with us. Given Imperial's excellence in medicine and technology, we are ideally positioned to push forward the barriers of this new field of science. This collaboration will enable us to focus on combining nanotechnology with other powerful technologies such as tissue engineering to make breakthroughs of great social and commercial significance.
"The application of nanotechnology to medicine enables unprecedented insights into biological phenomena at a molecular level, and opens up new possibilities for diagnosing, preventing, and treating disease and traumatic injury."
Magnus Gittins, Chief Executive Officer of Advance Nanotech, says: "Our collaboration with Imperial College London is the first step in creating new product lines that will make a real difference to people's lives. Working in partnership with the Institute of Biomedical Engineering, we are pleased to be providing resources to bridge the gap between first class innovation and marketable solutions to serious medical conditions."
Sir Richard Sykes, Rector of Imperial College London, adds: "The Institute of Biomedical Engineering brings together the best engineers, biologists and clinicians to work towards improving human health. This injection of funding from Advance Nanotech is hugely important and will enable the Institute to develop technologies to revolutionise healthcare in the future."
In the next phase of the collaboration, Advance Nanotech plans to partner the Institute of Biomedical Engineering and leading research organisations in the USA and Singapore in a series of collaborative projects.
About Advance Nanotech Inc.
Advance Nanotech, Inc. commercialises innovative nanotechnology discoveries. Operating in three areas: electronics, biopharma and materials, Advance Nanotech leverages relationships with financial and development resources to enable a product focused, fast-track commercialisation of nanotechnology. Advance Nanotech has established relationships with academic institutions that are at the forefront of nanotechnology research and development. Advance Nanotech creates economic and time efficiencies which can bridge the development of University research to commercialised product. On October 1st, 2004, Advance Nanotech Inc, was acquired by Artwork & Beyond, Inc. (OTCBB:ABYD).
About the Institute of Biomedical Engineering
The Institute of Biomedical Engineering is a 22 million Pounds investment of Imperial College London, focusing interdisciplinary research in emerging technologies like bionics, tissue engineering, biomechanics and nanotechnology for human health and well-being. State-of-the-art infrastructure and purpose-built laboratories are being created at South Kensington to strengthen these research areas. The Institute places a special emphasis on the commercialisation of new technologies, problem solving for industry, and the deployment of advanced healthcare solutions for public benefit.
About Imperial College London
Consistently rated in the top three UK university institutions, Imperial College London is a world leading science-based university whose reputation for excellence in teaching and research attracts students (11,000) and staff (6,000) of the highest international quality. Innovative research at the College explores the interface between science, medicine, engineering and management and delivers practical solutions that enhance the quality of life and the environment - underpinned by a dynamic enterprise culture. Website: www.imperial.ac.uk