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NanoSensors Provides Update on Its Biosensor to Detect E.coli and Salmonella

NanoSensors, Inc., a nanotechnology development company that is developing a biosensor device to detect e.coli and salmonella announced today an update regarding its product development timeline for its biosensor. The Company stated that although it had received multiple prototypes of its e.coli biosensor for field testing from its contract manufacturer, due to its limited personnel and financial resources, it has not yet been able to commence field testing the prototype of its biosensor product as it had previously expected.

Although the Company continues to review multiple alternatives in order to strengthen its internal resources, the Company has determined to also explore entering into strategic relationships with a third party in order to facilitate the testing and commercialization of its biosensor product. In order to maximize its ability to pursue bringing a biosensor device to market, the Company will evaluate potential relationships with a range of third parties, including public and private corporations, non-profit organizations, academic institutions and government entities. In this regard, the Company stated that it is focused on partnering with an entity that has experience manufacturing, marketing and selling systems for testing in the clinical molecular diagnostics, industrial and bio-threat markets.

"We have decided to explore these alternatives due to our limited personnel and financial resources," stated Dr. Ted Wong, the Company's Chief Executive Officer. "While we will continue to explore means of furthering the development of our biosensor internally, we cannot foreclose the potential benefits that allying our company with a third party could bring. By working with another entity with greater financial and other resources than we have, we believe that we can significantly reduce the amount of time until we can commercialize our proposed biosensor and begin to generate revenues from our biosensor product. This will a
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