IRVINE, Calif., April 11, 2011 /PRNewswire/ -- Shrink Nanotechnologies, Inc. ("Shrink") (OTC Markets: INKN), an innovative high technology company, announced today that it has executed a binding letter of intent to acquire 100% of Hawaii-based Nanopoint Inc. ("Nanopoint"), a biomedical instrumentation and microfluidics company with global distribution for its award-winning suites of life sciences products.
The transaction highlights are:
Shrink CEO Mark L. Baum stated, "We are pleased to have the opportunity to welcome the Nanopoint team to our family. Nanopoint has built an award-winning platform of products in the life sciences space, as well as a network of global distribution for its products. Nanopoint's product line will extend Shrink's portfolio of opportunities in the drug discovery, live cell imaging, assisted reproductive sciences, stem cell research and cell culturing businesses. We believe that there is tremendous synergy between our respective products – StemDisc and Cell Align, in particular, along with work that we are doing with the Corning modular microfluidics platform, and we believe that the Nanopoint distribution group is a terrific way for Shrink to leverage on the relationships that Na
|SOURCE Shrink Nanotechnologies, Inc.|
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