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Bluechiip Licenses Its Technology in Deal with US Tech Company MiTeGen
Date:12/5/2012

MELBOURNE, Australia, Dec. 5, 2012 /PRNewswire/ -- Bluechiip Limited [ASX: BCT] today announced that USA-based high-technology manufacturing company MiTeGen, LLC has signed a license agreement for tracking of cryopins.

The Joint Development, Collaboration and License Agreement with Bluechiip allows MiTeGen to integrate Bluechiip's tracking technology into the cryopins it manufactures and sells to the likes of the Australian Synchrotron, for which Bluechiip has just completed a project, as well as other synchrotrons around the world. The agreement allows MiTeGen to develop with Bluechiip, and for MiTeGen to sell this 'enhanced' product.  This adds a further product to Bluechiip's product range and another revenue stream as the company moves into the commercialisation phase.

MiTeGen, based in New York, designs, manufactures and distributes products for -- among other purposes -- crystallization, crystallography and x-ray diffraction of proteins, viruses and small molecule/inorganic compounds.  MiTeGen supplies crystallography goniometer bases -- also commonly referred to as 'cryopins' -- for crystal mounts which are used in synchrotrons. MiTeGen's customers include academic, medical, pharmaceutical, government and industrial laboratories in more than 40 countries.

MiTeGen is one of the world's major suppliers of cryopins, offering a wider range of cryopin designs than any other manufacturers, to better meet the varying needs of global customers.  MiTeGen's extensive line of Goniometer bases include patented reusable bases unique to the industry and very popular with users.  The cryopin global market is estimated to use 2 million per year in synchrotrons across the world, with other uses in markets including research and science which are yet to be explored.

Brett Schwarz, Managing Director of Bluechiip Limited, said
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SOURCE Bluechiip Limited
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