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Advance Nanotech, Inc.: Owlstone and Agilent Technologies Collaborate to Explore FAIMS/TOF-MS Applications

^{Published on 2009-06-02 10:58:12, Last Modified on 2009-06-02 10:59:40 - Market Wire}
 

PHILADELPHIA, PA--(Marketwire - June 2, 2009) - ASMS Conference on Mass Spectrometry, June 1, 2009 - Owlstone Nanotech, Inc., a subsidiary of Advance Nanotech, Inc. (OTCBB: [ AVNA ]) and Agilent Technologies Inc. (NYSE: [ A ]), today announced a phase one agreement to develop Owlstone's field-asymmetric ion mobility spectrometry (FAIMS) filter as a front-end separation module for Agilent's Accurate Mass time-of-flight mass spectrometers (TOF-MS).

The goal is to determine how the systems can work together to enable identification of previously unresolved analytes. The collaboration will also explore how FAIMS can speed up liquid chromatographic separations, saving valuable analysis time.

Financial details were not disclosed.

"The collaboration with Agilent gives us the opportunity to integrate our technology onto highly sensitive mass spectrometers that are ideal for demonstrating the benefit of the unique high-field, fast scanning ability of our FAIMS device," said Bret Bader, Owlstone CEO. "Partnerships with highly skilled organizations like Agilent are a key part of our business strategy. We view this alliance with a recognized industry leader as a further stride in the realization of this strategy and a testament to the quality we strive to achieve at Owlstone; and we are very excited by the potential of these collaborative efforts to bring new analytical capabilities to a world-wide market."

"The fast scanning speed of the Owlstone micro-scale FAIMS device now makes it feasible to acquire ion mobility spectra from LC/MS separations in real time," said John Fjeldsted, Agilent LC/MS Research and Development director. "In particular, our TOF and QTOF systems with Agilent Jet Stream Technology are uniquely suited for coupling to high-speed ion mobility separations by virtue of very high spectral acquisition rates and an excellent analyte desolvation design."

About Agilent Technologies

Agilent Technologies Inc. (NYSE: [ A ]) is the world's premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company's 19,000 employees serve customers in more than 110 countries. Agilent had net revenues of $5.8 billion in fiscal 2008. Information about Agilent is available on the Web at [ www.agilent.com ].

About Advance Nanotech, Inc. and Owlstone Nanotech, Inc.

Advance Nanotech, Inc. (d/b/a Owlstone) is in the process of restructuring its business and becoming an operating company focused on its majority owned subsidiary Owlstone Nanotech's next generation chemical detection technology. Owlstone Nanotech, Inc. ("Owlstone") is a pioneer in the commercialization of chemical detection products. The Owlstone detector is a revolutionary dime-sized sensor that can be programmed to detect a wide range of chemical agents that may be present in extremely small quantities. Using leading-edge micro- and nano fabrication techniques, Owlstone has created a complete chemical detection sensor that is significantly smaller and can be produced more cost effectively than products using existing technology. There are numerous applications -- across industries from security and defense to industrial process, air quality control and healthcare -- that depend on the rapid, accurate detection and measurement of chemical compounds. Owlstone works with market leaders within these industries to integrate the detector into next generation chemical sensing products and solutions. Owlstone's technology offers a unique combination of benefits, including small size, low manufacturing costs, minimal power consumption, reduced false-positives, and a customizable platform. For more information about Advance Nanotech, Inc. and Owlstone Nanotech, please visit [ www.owlstonenanotech.com ].

The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, spending levels, market acceptance of product lines, the recent economic slowdown affecting technology companies, the future success of scientific studies, ability to successfully develop products, rapid technological change, changes in demand for future products, legislative, regulatory and competitive developments, the Company's ability to secure additional working capital and/or generate sufficient cash flow to support its operations, and other factors could cause actual results to differ materially from the Company's expectations. Advance Nanotech's Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports and other SEC filings discuss some of the important risk factors that may affect Advance Nanotech's business, results of operations and financial condition. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.