BioCrystal and Crystalplex in Broad Cross-Licensing Pact Collaboration Will Promote Wider Development and Use of Fluorescent

Nanocrystals and Encoded Nanobeads in Research and Diagnostics



    COLUMBUS, Ohio and PITTSBURGH, Nov. 1 /PRNewswire/ -- Two emerging
 nanotechnology companies announced a broad cross-licensing agreement that will
 extend the market reach and technical utility of their fluorescent
 biomolecular assaying platforms.
     BioCrystal Ltd., based in Columbus, Ohio, and Crystalplex Corp., based in
 Pittsburgh, Pa., also said they agreed to collaborate on the development of
 novel products using the proprietary technologies of each company. The
 agreement also provides for possible joint product distribution.
     The agreement combines highly complementary technologies for producing
 fluorescent semiconducting nanocrystals and nanobeads, which are gaining
 increasing use in the detection of low-abundance molecules in biological
 research and clinical diagnosis.
     In particular, BioCrystal provided Crystalplex with a non-exclusive
 worldwide license to its intellectual property related to nanocrystal-encoded
 beads and a nanocrystal-enhanced filter set for microscopy applications.
 BioCrystal will also allow Crystalplex to use non-water-soluble nanocrystals
 for encoding into Crystalplex's PlxBead products and its water-soluble
 nanocrystals products for sale with Crystalplex PlxBeads.
     Crystalplex provided BioCrystal with a nonexclusive worldwide sublicense
 to its alloyed nanocrystal technology licensed from Indiana University.
     "Crystalplex is delighted to forge a working relationship with such a
 strong technology leader," said Alan R. Seadler, Ph.D., president and CEO of
 Crystalplex. "This collaboration will have a major impact on the future of
 fluorescent nanocrystals as platforms for highly multiplexed and ultra-
 sensitive molecular detection."
     "Crystalplex has a clear vision of what it expects to accomplish with its
 bead-based technology," said Jeffrey R. Bergen, president and CEO of
 BioCrystal. "We are pleased to have this opportunity to broaden biological and
 clinical applications for fluorescent nanocrystal products."
 
     About Crystalplex Corp. ( http://crystalplex.com )
     Crystalplex is an early stage company providing cutting-edge, bead-based
 nanotechnology "PlxBeads" to the biomedical research and medical diagnostic
 markets.  Plxbeads can be used as "molecular barcodes" to monitor complex
 biological processes in pharmaceutical research or as nanosensors reporting
 diagnostic results for complex diseases. Crystalplex products will provide
 test results from smaller samples and with reduced time, lower labor costs,
 and less expensive instrumentation than currently possible while also
 providing better results for drug discovery or diagnostic decision making.
 Crystalplex was founded by LaunchCyte LLC and has been funded by private
 investors as well as Innovation Works, the Pittsburgh Life Sciences
 Greenhouse, and the University of Pittsburgh Medical Center.
 
     About BioCrystal, Ltd. (( http://www.biocrystal.com )
     Formed in 1996, BioCrystal, Ltd., brought together an interdisciplinary
 science group into a business structure committed to the development of novel
 products and procedures for applications in the life sciences and clinical
 medicine. Funded by private investment sources in Columbus, Ohio, BioCrystal
 has created a vital, high technology business environment in which products
 are being developed for commercialization in three areas: semiconductor-based,
 nanocrystalline fluorescent markers (BioPixels(TM)) for cell and intracellular
 detection and analysis; therapeutic compounds and procedures for the diagnosis
 and treatment of cancer; and OptiCell (R), a versatile, disposable tool for
 broad use in cell and tissue culture. BioCrystal has 36 patents and allowed
 patent applications in the three technology areas.
 
 

SOURCE Crystalplex Corp.

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